Kathleen Lynch (Cork North Central, Labour)
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Question 153: To ask the Tánaiste and Minister for Finance if, in regard to the commitment contained in the programme for Government, he will outline his proposals for major changes for mortgage interest relief for first time buyers and those who bought a house in the past seven years; if he has an estimate of the cost of the proposed changes; and if he will make a statement on the matter. [23680/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
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An Agreed Programme for Government contains a commitment to increase in Budget 2008 the ceiling on mortgage interest relief for first-time buyers and those who bought a house in the past seven years, from €8,000 to €10,000 for single people and from €16,000 to €20,000 for couples or widowed persons. The estimated cost of this measure is about €10 million in a full year.

I would draw the Deputy's attention to the fact that the guiding economic and fiscal principles for the next five years contained in the Programme provide that "we will operate a responsible fiscal policy characterised by broad budget balance and a declining debt burden" and "keep the budget in broad balance and fully within our commitments under the Stability and Growth Pact."