Ruairi Quinn (Dublin South East, Labour)
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Question 110: To ask the Minister for Finance if his Department has undertaken a study of the implications for house prices as SSIAs mature; and if he will make a statement on the matter. [19286/06]

Brian Cowen (Laois-Offaly, Fianna Fail)
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My Department has been analysing the potential effects of the maturing of the SSIA scheme on the economy. The impact will crucially depend on how the savings and the monthly subscriptions are used. Unfortunately, projecting the likely spend-save ratio is a difficult task, not least because it is not possible to draw on previous domestic experience as a basis for anticipating the effect.

Nevertheless, the analysis of previous international experience, economic theory, as well as the findings of various surveys undertaken domestically would tend to suggest that, upon maturity, a large portion of existing savings will continue to be saved. In these circumstances, it is not expected that the maturing of the SSIAs will have a determining effect on house prices.