Helping bankers and builders, not buyers

Fine Gael and Fianna Fáil are in a spin over the government’s controversial first-time buyers scheme. With an allocation of just €50 million in Budget 2017, this may seem a little surprising. Less so when you consider the weight of opinion opposing the measure.

The proposal is to allow first-time buyers purchasing a new home to reclaim tax equal to 5 per cent of the value of the house up to a maximum ...