Michael Noonan forced to alter threshold in help-to-buy plan

The Government has been forced to make significant changes to one of its key budget proposals on foot of concerns raised by the Central Bank and pressure from Fianna Fáil.

The Central Bank had warned the income tax rebate for first-time buyers could encourage people to take on too much debt.

Minister for Finance Michael Noonan has sought Cabinet approval to make further changes to the threshold up to which an income-tax rebate worth up to €20,000 can be claimed under the help-to-buy scheme, due to political pressure from Fianna Fáil.

Read the full details in the Irish Times

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