Dáil Éireann - Volume 388 - 12 April, 1989

Written Answers. - State Subsidisation.

149. Mr. Quinn asked the Minister for Finance, in relation to the State subsidisation by way of current accounts of [1101] housing, the total amount of State subsidisation of private housing for each year from 1978 to 1988, inclusive, with respect to tax forgone on mortgage interest relief during that period; and if he will make a statement on the matter.

Minister for Finance (Mr. Reynolds): The following table sets out the information requested in so far as it is available.

Tax Year

Estimated cost to the Exchequer

£ million

1978-79

27.0*

1979-80

  20.0**

1980-81

  24.0**

1981-82

  37.0**

1982-83

  55.0**

1983-84

  80.0**

1984-85

117.0**

1985-86

146.2    

1986-87

152.0    

1987-88

 151.6(P)

1988-89

 155.0(P)

The figures marked (P) are provisional.

* No breakdown of loan interest relief between mortgage and other interest is available for this year.

** The figures shown for mortgage interest are estimated: The amounts of mortgage interest which qualified for relief are not distinguishable in the tax records from amounts of other interest on which relief was granted for years prior to 1985-86.