Minister of State Niall Collins says scheme may be introduced in response to latest interest rate rise by the European Central Bank
The Government is considering using the budget to introduce a limited form of mortgage relief, likely to be administered through the welfare system and modelled on the mortgage interest supplement, a payment that was phased out during the austerity era.
Mr Collins told the programme that tax breaks for landlords and renters would be on the table for next month’s Budget, and defended the government’s Housing for All programme, arguing that ramping up the supply of social and affordable housing and cost-rental plan would help alleviateSinn Féin’s spokesman on Foreign Affairs and Defence said the proposal was typical of the Government’s response, saying it was “piecemeal and always too little, too late”.
Ministers are discussing a plan similar to one that existed until 2017 and provided short-term support for thousands of eligible people who were unable to meet mortgage interest repayments. While more than 12,000 borrowers benefited from the scheme in the last year before it was closed to new entrants, at an annual cost of €43 million, it would be a far cry from the sort of universal relief being sought by the Opposition for all mortgage holders.
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