Pearse Doherty (Donegal, Sinn Fein)
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252. To ask the Minister for Finance the estimated full-year revenue in 2021 that would be raised by abolishing the help to buy scheme. [18762/20]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Help to Buy scheme (HTB) is an income tax incentive measure designed to assist first-time buyers with the deposit required to purchase or self-build a new house or apartment to live in as their home. The legislation originally contained a sunset clause for 31 December 2019.

Finance Act 2019 section 477C of the Taxes Consolidation Act 1997 was amended to provide for a two year extension to the scheme to 31 December 2021. In the Budget 2020 Tax Policy Changes publication I provided details of the estimated cost of this measure for the tax years 2020 and 2021. It was estimated that the full cost of the measure would be €100 million in each tax year.

In terms of the Deputy's question, and bearing in mind that HTB is a demand led scheme which is subject to a broad range of variables, including housing completion rates and prices, it is not possible to provide a reliable estimate of the savings that would arise from abolition of the scheme.  

As the Deputy will be aware, I recently announced a temporary enhancement to the scheme, relating to the quantum of support that is available to first time buyers, as part of the July Stimulus package.