Joan Burton (Dublin West, Labour)
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Question 147: To ask the Minister for Finance his views on recent reports that the amount that first time buyers can borrow may fall by up to €100,000 by early 2007 if interest rates continue to rise at expected rates; the measures he will take to address the danger that first time buyers will be priced out of the market; and if he will make a statement on the matter. [24047/06]

Brian Cowen (Laois-Offaly, Fianna Fail)
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This Government has already taken measures that seek to address problems faced by first time buyers. The situation is kept under review each year at budget time. There are already fiscal measures which support first-time buyers, including preferential stamp duty rates for first-time owner-occupiers of second-hand houses, who are exempt from stamp duty on properties valued at €317,500 or less with reduced rates applying on properties valued from €317,500 up to €635,000. First-time owner-occupiers are also exempt from stamp duty on new properties with a floor size of 125 square metres or less. There are also mortgage interest rate reliefs which give preferential treatment to first time buyers.