Catherine Connolly (Galway West, Independent)
Link to this: Individually | In context | Oireachtas source

126. To ask the Minister for Finance his plans to phase out the help-to-buy scheme; the timeline for same; and if he will make a statement on the matter. [55839/22]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I am aware that the Deputy has a particular perspective in relation to the help-to-buy scheme which was set out comprehensively in the context of the second-stage debate on Finance Bill 2022 on 25 October last.

As I indicated in my Budget 2023 address to the House on 27 September, the Help-to-Buy scheme has been a significant support for first time buyers of new homes. Since its inception in 2017, well over 35,000 first-time buyers, either singly or as part of a couple, have benefited from the scheme.

I also indicated in my address that, as with any tax expenditure, the scheme will be kept under review and that there are a number of recommendations within the recent Mazars report on the scheme which the Government will consider for future budgets.

In the meantime, however, on my recommendation, the Government has decided to continue the scheme, at current rates, until the end of 2024. The future of the measure beyond that will be considered in due course.