Joan Burton (Dublin West, Labour)
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Question 121: To ask the Tánaiste and Minister for Finance his views on introducing a measure in Budget 2008 allowing financial institutions to provide DIRT free saving accounts to young people under 25 similar to those which those aged over 65 can avail of; the estimated cost of such a measure; and if he will make a statement on the matter. [27544/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
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The Finance Act 2007 introduced a new scheme to allow the operation of DIRT free savings accounts. To qualify, there are two conditions: be aged 65 years of age or over and total income must not exceed the relevant exemption threshold, i.e. €19,000 (for an individual) or €38,000 (for a married couple). I have no plans to introduce a similar exemption for any other category of taxpayer. Information is not available that would provide an estimate of the cost of introducing such an exemption.

Joan Burton (Dublin West, Labour)
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Question 122: To ask the Tánaiste and Minister for Finance his views on increasing the rent tax allowance in Budget 2008; the estimated cost of doubling the rent tax allowance for those under 55 to €3600 for a single person and €7200 for married or widowed; and if he will make a statement on the matter. [27546/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
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I am informed by the Revenue Commissioners that the most recent year for which complete information on the cost of rent relief to the Exchequer is available is for the income tax year 2004. Using that data, the full year cost to the Exchequer of rent relief for those aged under 55 years is projected at €67 million in 2007 terms. On this basis, a doubling of the allowance could cost in the region of an additional €67 million but could be less, depending on the extent to which the additional tax relief could be absorbed by claimants and assuming no significant increase in the level of take up by taxpayers.

All income tax provisions are reviewed regularly, particularly in the context of the annual Budget. The Budget is less than a month away. It has been the practice of successive Ministers for Finance not to comment on tax changes in the run up to the annual Budget and I do not propose to depart from that approach.