Dáil debates

Thursday, 25 October 2012

Topical Issue Debate

Negative Equity Mortgages

4:55 pm

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

What are we to do? We have young people, married and unmarried, with young children who want to have more children but are living in one or two bedroom apartments they purchased at the height of the property boom. The tax code makes it difficult for them to rent accommodation appropriate to the size of their family. While I understand the pressure on the public finances, this is none the less a large group of people who find themselves in a horribly difficult position.

The Minister of State indicated that widening the scope of the current relief would make the measure "less targeted and very costly". While I accept it would be costly, I do not accept it would be less targeted because I am asking that it be targeted at a specific group, namely, families who wish to move out of apartment dwellings but cannot do so without being classified as investors. I have raised this issue elsewhere and I ask that the Minister give it careful consideration.

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