Darragh O'Brien (Dublin Fingal, Fianna Fail) | Oireachtas source

Actually, it does not. The equity under the first home scheme is not a second mortgage, which is what others claimed. Under it, we are providing approximately €69,000 in equity. Combined, these come to nearly €100,000. People who have been renting or living at home have a real way now to buy their homes at an affordable rate, with mortgages of €1,000 or €1,100 per month. That is happening. Some may wish it was not happening. The main Opposition party inexplicably wants to scrap both schemes. Last year saw the largest number of first-time buyers since 2007, with them purchasing one in every two new homes. The issue in that space is supply.

This time-bound measure, which will be kept under review, will get development schemes that were on the cusp of viability moving so that people will have more choice and can get out of the rental trap or their folks' box rooms. I expect a large portion, if not all, of the levy reduction to be passed on. We are earnestly requesting that this be done.

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