Budget 2017: First-time buyers risk borrowing too much

There are fears house hunters will borrow more than need to qualify for relief, writes John O’Flynn

THE tax cuts in Budget 2017 amounted to approximately €500m. However, with the reduction in USC by 0.5% accounting for €335m of these tax cuts, Finance Minister Michael Noonan was very restricted in the tax reduction measures he could introduce.

Consequently he appears to have focused on specific areas namely housing, the self- employed, agriculture and fishing.