And asked about the potential reintroduction of a tax relief on mortgages, he said: “In terms of any interest relief in the budget, that’s something we’ll have to consider between now and then. It is certainly something that’s complicated to do. And it is only fair to point out that a lot of people who are now suffering from the increased effects of high interest rates would have been on very low interest rates for a long period of time.
“So people who suggest for example, a temporary measure to help people with higher interest rates, they really need to ask the question, how temporary would it be? Because we had a very long period for many years of very low interest rates and things are now resetting to what would be close to the average of somewhere between three and five per cent,” the Fine Gael leader said.
It comes after Minister for Housing Darragh O’Brien said the reintroduction of a tax relief on mortgages“There’s no question that there are families and individuals suffering because of the mortgage rate increases but it can’t be done on an ad hoc basis, as you’ve suggested to deal with nearly every problem,” he said earlier in the week.
Mr Varadkar said this was not the case, and that he would wait to see how effective the existing plans are first.
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