The ALCI is lobbying the new Government to reintroduce the Home Renovation Incentive (HRI) scheme.
The Home Renovation Incentive scheme which ran from October 2013 to the end of 2018 was widely regarded as an outstanding success. Statistics from Revenue show that during the duration of the scheme 147,369 projects were completed on 94,179 properties. Almost €2.5 billion flowed into the economy, with €105 million claimed by householders in tax credits.
Evidence suggests that the HRI scheme acted as a strong encouragement for otherwise latent home improvement works, thereby making the scheme effectively cost-neutral for the Exchequer.
The ALCI strongly urges the re-introduction of the HRI scheme as soon as possible to stimulate the economy by encouraging homeowners to have the confidence to spend post the Covid-19 crisis.
