Gerald Nash (Louth, Labour)
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Question 64: To ask the Minister for Finance when mortgage interest relief will be increased to 30% for first time buyers between 2004 and 2008 as committed to in the Programme for Government; and if he will make a statement on the matter. [21631/11]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy is aware, there is a commitment in the Programme for Government to help homeowners in distress. 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.

When this proposal has been thoroughly examined, I will decide on the appropriate action to be taken. However, any measures will not be introduced before Budget 2012.