The main purpose of the new house grant scheme was to encourage new house building. For this reason, as Senator McDowell said, first-time purchasers who bought an existing house did not secure any grant assistance. In order to boost new house building, the grant was set at a high level. Some £1,000 was a high level in 1977. When the grant was first introduced it represented approximately 7% of the average new house price. However, in the context of the 2003 Estimates, the Government is considering carefully every expenditure programme and scheme. The new house grant is obviously of benefit to those who qualify but its economic impact has long since been absorbed in house prices. Its value is now exceeded considerably by the value of the stamp duty exemption for new houses. The Government is proposing to retain this exemption which would amount to €5,900 on the average new house price.