Catherine Connolly (Galway West, Independent)
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37. To ask the Minister for Finance further to Parliamentary Question No. 11 of 22 February 2022, the status of the promised review of the help-to-buy scheme; the terms of reference of the review; the person or body carrying out the review; and if he will make a statement on the matter. [20077/22]

Paschal Donohoe (Dublin Central, Fine Gael)
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In my Budget 2022 address, I announced that a formal review of the Help-to-Buy scheme would take place this year. The exercise is intended to be fundamental in nature and to help inform decisions for Budget 2023 and Finance Bill 2022.

The terms of reference for the review are as follows:

"To examine all aspects of the Help-to-Buy scheme (s.477C of the Taxes Consolidation Act 1997) including its design, its operation, the extent to which it has met its key policy aims of assisting first-time buyers of new homes to fund their deposit and encouraging the building of additional new properties.

In doing so, the review should explore the cost effectiveness of the scheme to-date, including the issue of deadweight. It should also examine the impact of the scheme on house prices since inception.

The findings should present an assessment on a national basis while highlighting any regional aspects.

Having regard to the Government’s Housing for All strategy, and in particular to other initiatives included in Housing for All that have the same broad policy objectives as currently apply for the scheme, to examine whether there is a continued role for Help-to-Buy and, if so, to present options on how such role might best be fulfilled in the most efficient and cost-effective manner in the medium to long term, including on the question of any transitioning.

As part of the overall context, the review should draw on experience internationally and offer views in this regard as appropriate.

The study should be completed by c.o.b. Friday, 24 June 2022."

A request for tenders for the review exercise closed on 8 April 2022. My Department is currently managing the tender review process and it is expected that a contract for the review exercise will be awarded in the shortly.