Eamon Gilmore (Dún Laoghaire, Labour)

Anybody who looks at the small print of the Budget Statement for what might be done for stamp duty will see in B.13 that things are being done. There is a new stamp duty relief for Stock Exchange members. That is an interesting idea for the first-time buyer who needs to trade up from the small home or the one or two bedroom apartment, to more suitable accommodation when he or she has a family. Some of my constituents in those circumstances are caught for a stamp duty bill of €30,000. In looking for reform of stamp duty they will be greatly relieved to read in this budget that stamp duty is being reformed for Stock Exchange members but not for people buying a home.

During the past couple of months the Government has perpetrated a very cruel deception on young people who are seeking to buy a home. The Minister for Justice, Equality and Law Reform, Deputy McDowell, was the first to say that something would be done in the area of stamp duty. In fact, on day one he was going to abolish it altogether saying we did not need it.

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