COWEN GIVES TWO FINGERS TO FIRST-TIME BUYERS

“Young Fine Gael President, Elizabeth Munnelly, has slammed the Minister for Finance for again displaying his contempt for first-time buyers.


“This Government does not care about young people. There is no point in giving interest relief to somebody who can’t afford to buy a house in the first place”, said Munnelly.


“For those who already own property, doubling mortgage interest relief will save €15 per week, which will disappear with the next interest rate rise. This effort to patronise young people by believing they will be fobbed off with this half-hearted initiative will fool nobody.


“By not abolishing stamp duty for first-time buyers the Government has ensured young people can only get on the property ladder by buying small apartments with large management fees; furthermore they are in direct competition with buy to let investors.


“Young people have no option to buy second hand housing in areas with established communities and amenities, without incurring a huge tax liability. Of course the Government can spin a ‘give away’ budget - they are giving away our money!” said Munnelly.