DUBLIN: The finance minister will shut down the government’s first-time buyer scheme after two years if it pushes up the cost of new houses.
Michael Noonan is set to announce a scheme in the budget to give homebuyers an income tax refund of €15,000 if they buy a new-build home.
Senior Fine Gael sources confirmed last night that the measures would be subject to a two-year review to ensure that they are increasing supply. The housing proposal is among the key tax measures in the €1 billion budget, which will be announced next Tuesday.
