Brian Cowen (Laois-Offaly, Fianna Fail)

I changed the thresholds in budget 2005, increasing them considerably in respect of first-time buyers of second-hand houses. According to data available to the Department of the Environment, Heritage and Local Government, in the first half of 2006, over 50% of houses purchased by first-time buyers of second-hand properties in Dublin were valued at under €317,500 and were not liable for stamp duty. Those are the figures up to mid-2006, but statistics for the third quarter are not yet available. In terms of total Revenue take, it is important to recognise the significant changes we have made in income taxation. The contribution these taxes make to the Exchequer must also be taken into account.

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