Noel Ahern (Dublin North West, Fianna Fail)

I know the theory of what the Deputy has said. He did not mention it but he is probably trying to introduce a reduced rate of stamp duty. One can make a theoretical argument for the point the Deputy has made. These things can be done by the carrot and the stick. Some countries might do it by the stick by imposing rates or a property charge on elderly people which would force them out of their homes. Certainly we have not done that and will not do it. We do it with the local authorities under the financial contribution schemes. Much of our emphasis is on the first-time buyer who is going for these smaller homes. While what the Deputy has said is reasonable and I can understand it from one point of view, at the same time I would not like it to be too successful because it might put pressure on the shortage of smaller homes for first-time buyers. We now have a better mix of developments. There is a better range of house-apartment types in new developments. At the end of the day it is not just about a carrot to encourage them to trade down. There are many factors involved. I agree there are many people in four or more bedroom houses and one may ask why they do not trade down. They have raised their families there and it is not always the couple of quid that encourages them. There are other factors. I know what the Deputy is getting at but we would need the support of the Department of Finance to encourage it. If it was too successful I would be nervous of it putting extra pressure on the first-time buyers' market.

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