2008 first-time-buyers eligible for mortgage interest relief
- Published on Friday, 10 February 2012 14:02
Fine Gael Senator for Wexford, Michael D'Arcy, has today (Wednesday) praised the Minister for Finance, Michael Noonan, for including in the Finance Bill the provision that all first time buyers who bought in 2008 will be entitled to mortgage interest relief, even if they did not start paying interest on their loan until 2009. “A number of weeks ago, I asked Minister Noonan to look at this provision in the Finance Bill as a number of my constituents had alerted me to the fact that, while they purchased their home in 2008, they did not have to …
D’Arcy pushes for more MABS resources
- Published on Wednesday, 01 February 2012 13:47
The recession is biting hard and personal indebtedness is at an all-time high. In my role as a public representative this is unfortunately one of the most common areas that people come to me for help. The circumstances behind most people's financial misfortunes nearly always involve recent unemployment or pay cuts. The knock-on effect is them struggling to make ends meet in the short term and them ignoring long term commitment such as mortgage on other loans. In nearly all circumstances I refer people to MABS – the Money Advice and Budgeting Se …
Abolition of USC for low earners will protect low paid and incentivise work
- Published on Tuesday, 06 December 2011 14:22
Michael D'Arcy has welcomed the measure announced in the budget by Minister Michael Noonan that the Universal Social Charge (USC) is to be abolished for people who earn less than €10,000. Up to now the USC applied to people who earned €4,000 or more. “This will positively affect 330,000 people including the low paid, part time workers and students. This measure is a deliberate effort to protect the lowest paid, encourage spending, incentivise employment and help to keep people off the live register. “As things currently stand the …
Take home pay will not be hit by budget
- Published on Tuesday, 06 December 2011 13:12
Measure is designed to reward workers and get people spending I welcome the Government's decision not to increase income tax in the 2012 budget. “I was delighted to hear Minister Noonan announce that there will be no increase in income tax. This highly significant announcement will be welcomed by every full time worker in the country. If you are an income tax payer, your take home pay will be the same in 2012 as it is now. For the first time since the downturn occured the budget has not targeted income tax. We have taken this stance …
Increase in mortgage interest relief major boost to boom-time buyers
- Published on Tuesday, 06 December 2011 13:11
Minister for Finance, Michael Noonan, to honour a Fine Gael commitment to increase mortgage interest relief for those who bought their first home at the height of the property bubble. “I have raised this issue with the Minister on a number of occasions, as it is something that is of huge importance to families who are struggling to meet their mortgage repayments. This measure was something that Fine Gael promised to implement if we got into Government, and I am delighted that we have been able to live up to that commitment.” “Many peo …
D’Arcy welcomes Govt N11 decision
- Published on Thursday, 10 November 2011 12:21
Following the Government's capital expenditure announcement for the coming years, Senator Michael D'Arcy is pleased to confirm that there has been no downgrade of the N11 project – the Newlands Cross/N11 PPP will be advanced, subject to funding. Unfortunately access to PPP funding is strained in the current climate and the Government is preparing to re-enter the bond market in order to bolster exchequer funding for infrastructure projects. The key point here is that despite the deferment of other infrastructure projects, there has been no c …