Today’s announcement by the Minister for Finance, Brian Lenihan to increase mortgage interest relief for first-time buyers has been welcomed by the National Youth Council of Ireland.
James Doorley, Assistant Director at the NYCI said: "Any measure which goes towards reducing the cost of living for young people is favourable and will go some way to alleviating the financial pressures many young homeowners are facing.
"However, it is regrettable that the Budget did not provide any measure to assist those living in the private rented sector to get on the property ladder. The announcement of an extra €200 per year to landlords in the private sector is likely to result in an increase in rental prices for young people who are already struggling to afford high rents.
"Furthermore the 1% levy on income tax for income up to €100,000 will place many young people in a vulnerable position particularly those on minimum wage."