Oireachtas Joint and Select Committees

Wednesday, 1 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Charlie McCreevy:

Well, what we try ... yes, the answer to that question is again, yes and what we try to do, not alone by the interest deductibility issue, but the biggest thing was the stamp duty changes that we made. You must remember, we increased stamp duty dramatically and left it at zero, it went to zero for the first-time buyer and we increased stamp duty enormously, up to 9%, which is a fair old hike, anyway, and it had damn all effect on the housing market or very little.

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