Budget 2022 Ireland: Paschal Donohoe torpedo Darragh O’Brien’s tax break for downsizing plan

Finance Minister Paschal Donohoe has shot down an attempt by Housing Minister Darragh O’Brien to introduce tax breaks to free up the housing supply, the Sunday Independent can reveal.

r Donohoe blocked Mr O’Brien’s efforts to introduce a number of incentives for people to downsize – also known as downsizing – from large three- to four-bedroom homes to apartments in order to free up the offer for young families. Mr. O’Brien also wanted to extend the purchase assistance program to first-time buyers who would put abandoned houses back into service.

However, this was blocked by Mr Donohoe and the Ministry of Finance, fearing that it would dilute the overall impact of the tax break of up to € 30,000 for people buying their first home.

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