Noonan: Property measures 'may not work'
The Finance Minister Michael Noonan has admitted some of the Budget measures "may not work".
Mr Noonan has been answering questions about decisions outlined in today's Budget announcement.
Income tax was untouched today, however VAT has been increased by 2%, a new household charge of €100 a year is on the way, and cigarettes, petrol, diesel, as well as motor tax have all been hiked.
Minister Noonan said he is also interested in discussing deals with tax exiles, who might be interested in investing in Ireland.
Speaking at Government Buildings this evening, Minister Noonan said he wants to see a boost to the property market.
Mr Noonan said: "I am increasing the level of mortgage interest that you get if you buy in 2012.
"Now, I don't know if it will work, but I am certainly not going to sit back when my analysis is that the whole collapse in the property thing and the fact that nobody attempted solutions is dragging them further down all the time and is affecting the mentality of Irish people."
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