In considering the 2003 Estimates the Government was obliged to look carefully at every expenditure programme and scheme. The new house grant has outlived its usefulness as an economic incentive. While obviously of benefit to those who qualified for it, its economic impact has long been absorbed into the house price. Its value has now been considerably exceeded by the value of the stamp duty exemption for new houses. The Government proposes to retain this exemption which amounts to about €5,900.