Election: ‘a cabinet without the VVD will limit mortgage tax break’
Friday 07 September 2012
A cabinet without the VVD will lead to further limits to the tax break on home mortgages, prime minister and leader of the right-wing Liberals Mark Rutte says in Friday’s Telegraaf.
Although measures agreed in spring austerity talks only affect first-time buyers, other parties’ plans will also hit current mortgage holders which would not be fair, Rutte said.
'One thing I am certain of. If the VVD is not in the cabinet that will mean an end to interest-only mortgages for everyone. I can almost guarantee it,’ Rutte told the paper. Protecting mortgage interest tax relief is ‘an absolute top priority’, the prime minister said.
News agency Nu.nl points out that the VVD campaigned against changes to tax relief in the June 2010 election campaign but this spring agreed to limit the tax break for new mortgages.
The Netherlands will elect a new government next Wednesday.