Mortgage Interest Rates
Dail Éireann — 2024-04-10
============================================================

Pearse Doherty (SF), Donegal

With respect, the Minister made a mess of it. That is the reality. A total of €125 million was allocated to this. Only €14 million has been drawn down so far, or about 11%. The Minister stated 14,000 people have claimed the credit. We are in the month of April. There are 707,000 mortgages and only 14,000 people have claimed the credit. It is clear the tax credit is not working as it was intended. I earlier raised the fact the requirement to fill out an income tax liability form is acting as a clear disincentive for applications. It should have been done as Sinn Féin suggested, namely, via deduction at source.
The Minister has confirmed that hundreds of applicants, despite seeing their mortgage costs rise, have been denied the tax credit, in part or in full, on the grounds their incomes are too low. That is outrageous. It is absolutely scandalous. Rising mortgage costs are putting serious pressure on people. The Minister has made a mess of this legislation. He needs to go back to the drawing board to make sure those who need support get it.

---

Source: Houses of the Oireachtas. Licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). The Official Report is revised after first publication; the fetch timestamp below identifies the version quoted.

Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2024-04-10/debate/main
Retrieved: 2026-08-14T04:52:48+00:00
Sitting date: 2024-04-10