Richard Bruton (Dublin North Central, Fine Gael)

Would the Minister agree that a tax which accelerates so rapidly as house prices rise, is inequitable because of its extraordinary structure? Is the Minister aware that the amount of stamp duty collected in 2006 was fourfold that collected in 2002? Is he also aware that in 2002 the stamp duty paid on a typical house was 4% and came to €9,000, while now, just four years later, the corresponding figure is 7.5% with the average person paying €29,000? Would the Minister agree that the structure of this sort of tax, with such a sharp acceleration in take from many young families is unfair? It needs to be reformed so that the tax is equitable in the way it is applied and is also proofed against this extraordinary rollercoaster of huge surges when house prices rise.

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