Noonan: Lower VAT rate to remain in 2013; mortgage interest relief measure to end

Noonan: Lower VAT rate to remain in 2013; mortgage interest relief measure to end

Minister Michael Noonan has confirmed the lower 9% VAT rate is to remain for 2013.

The mortgage interest relief measure introduced last year will end on December 31 but there will be an exemption from new property tax up to 2016 for any new homes for first time buyers or unoccupied homes bought.

There will be property tax until 2017 for new homes bought in 2013 by first time buyers.

Meanwhile, Noonan's speech was interrupted by Fianna Fáil's Michael McGrath.

The party's Finance Spokesman cut across the Minister in mid speech to complain that copies of the budget had not yet been circulated.

Usually the budget is distributed among the opposition parties in advance.

However the Ceann Comhairle urged Minister Noonan to continue with the delivery of his budget speech.

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