Bloomberg News

Ireland’s Noonan to Consider Mortgage Interest Relief in Budget

October 12, 2011

Oct. 12 (Bloomberg) -- Irish Finance Minister Michael Noonan will examine the issue of mortgage interest relief for home owners in the upcoming budget.

Ireland will stick to its 8.6 percent debt-to-gross domestic product target for 2012, Noonan said in an interview with Dublin-based RTE television today. This may require more than 3.6 billion euros of budget cuts next year.

The government said in March as it came to power it will examine increasing mortgage interest relief to 30 percent for first-time buyers who bought houses between 2004 and 2008 from a current sliding scale of 20-25 percent.

To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net

To contact the editor responsible for this story: Louisa Fahy at lnesbitt@bloomberg.net


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