First-time buyers are not Budget winners at all

THE consensus in the media seems to be that first-time buyers were the big winners from Wednesday’s Budget.

Did I miss something? The only shred of comfort given to first-time buyers was an increase in mortgage interest relief, worth an average €800 per year.

What Brian Cowen didn’t tell us, however, is that €750 of this was going to be completely eroded within 24 hours of it being announced, due to a hike in interest rates by the European Central Bank.