Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

We discussed this topic on Second Stage. To briefly summarise, the help-to-buy scheme announced in budget 2017 is an income tax incentive measure designed to assist first-time buyers with a deposit required to purchase or self-build a new home or apartment to live in as their home. The relief is only available in respect of new builds with a view to increasing supply. This measure is to encourage supply, more housebuilding and more opportunities for people to buy a house. Building more houses will help in keeping prices down. If supply is tight, prices can be higher. This measure is to encourage supply and to encourage people to purchase their own homes. The issue of funds investing in companies or otherwise to carry out development for rental purposes is not part of the amendment we are discussing here today.

As stated, this is a measure to encourage supply and to assist people in buying their first home and getting their foot on the ladder in a home to live in. I can think of nothing more important in society today than helping people to own their own homes. I cannot accept the proposal that this should not be accepted and I support this section.