Joan Burton (Dublin West, Labour)

Property is being sold in the Ballsbridge area on a weekly basis for over €1 million per acre and many deals of €50 million and upwards are being completed. The saving through the loophole regarding stamp duty costs the Exchequer approximately €5 million a week in Ballsbridge alone. Meanwhile, young couples who buy a second-hand house in the same area pay 9% stamp duty. That loophole is used by Fianna Fáil's friends in the construction industry, and it must be reviewed and eliminated. I welcome the news that the Minister is having a review carried out regarding both capital tax elements. When it is made available, will he publish its results in full? I cannot understand how the Revenue Commissioners do not receive the value of large house estates being passed under section 86.

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