Michael Mulcahy (Dublin South Central, Fianna Fail)

Many other aspects of the budget are worthy of support. While I would not say I was critical of other aspects, there were some I would like to have seen handled differently. For example, as I said last night, I do not believe the 50 cent increase in excise duty on a packet of cigarettes was enough to make a significant market difference in discouraging a large number of young people from smoking tobacco. I understand what the Minister said about its relationship to the consumer price index and I accept the point the Taoiseach made in the debate last night when he said that raising the price of cigarettes too much would increase the level of smuggling, which is already very high. Nevertheless, the Irish Cancer Society had proposed a €2 increase in excise duty on a packet of cigarettes, which would have been a good idea.

On property taxation and stamp duty, I commend the change in mortgage interest relief for first-time buyers for seven years which will have a very positive impact on hard-pressed first-time buyers. Had it been my budget — it probably never will be my budget — I would have suggested some changes in the stamp duty regime.

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