Dominic Hannigan (Meath East, Labour)
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Question 79: To ask the Minister for Finance when mortgage interest relief will be suspended for first time buyers; and if he will make a statement on the matter. [6530/11]

Michael Noonan (Limerick City, Fine Gael)
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There is a commitment in the Programme for Government to help homeowners in distress to weather the recession. The Government will examine a number of proposals in relation to this commitment. One of these proposals relates to increasing mortgage interest relief to 30% for First Time Buyers who bought between 2004 and 2008 and to finance this in part by abolishing mortgage interest relief for new buyers from June 2011.

When this proposal has been thoroughly examined and analyzed and the findings and recommendations are presented to me, I will decide on the appropriate action to be taken. However, it is unlikely that any measures will be introduced before budget 2012.