Head of Central Bank ‘had little part’ in house buying plan, contradicts Michael Noonan

The head of the Central Bank has contradicted Finance Minister Michael Noonan’s Dáil claims he was “on side” over the controversial €20,000 help-to-buy budget scheme, saying he had minimal involvement in the plan.

Central Bank governor Philip Lane outlined the situation in separate letters to Fianna Fáil and Sinn Féin finance spokespeople Michael McGrath and Pearse Doherty yesterday — causing a fresh political row over the scheme.

Under plans announced on budget day earlier this month, first-time buyers will be able to receive a tax rebate of 5% of the cost of their property if they buy a newly built home.