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An increase to the rent tax credit is being “looked upon positively” in Budget negotiations, the Tánaiste has said.

The Programme for Government includes a commitment to progressively increase the rent tax credit.

Simon Harris, who is to deliver his first Budget as Finance Minister on October 6, said he was “positively disposed” to include such a measure.

Noting it had not been increased last year, he told reporters at the Fine Gael think-in: “The Programme for Government, that’s our north star.

“That’s what I’m meant to be trying to deliver, and therefore I’m positively disposed to trying to do something in relation to this.

“But any Finance Minister has to make it all add up on the day, and there are limitations, obviously, in the size of the tax package.

“But I’m hopeful we can do something on it.

“It’s something that’s very much being examined and looked upon positively.”

It was put to Mr Harris that his positive disposition was similar to Taoiseach and Fianna Fáil leader Micheál Martin’s “favourable disposition” on eliminating stamp duty for first-time buyers which the Fine Gael leader has dismissed.

Mr Harris emphasised the stamp duty proposal “is not in the Programme for Government”.