Martin Mansergh (Tipperary South, Fianna Fail)

I regret the extent of the emphasis placed on it. I cannot think of a single poverty group that mentioned the subject of stamp duty and it was hardly raised once in several months in the part of the country I represent. It was raised more recently but only by somebody who has a child in Dublin. I am not saying that a problem that pertains only to Dublin should not be addressed.

It is important to note that there are many anomalies wherever there are thresholds. There are many thresholds in the social welfare system, including for eligibility for medical cards, yet enormous emphasis was placed on stamp duty. Stamp duty is projected to raise €3.9 billion, or 8% of revenue. We do not have property tax in this country and while there is a case for reform it should be carried out with caution. I deeply deprecate the fact that stamp duty was debated in a context divorced from that of the budget. Stamp duty is like excise duty in that if one starts speculating on it in advance, it affects market behaviour. That has caused problems and I hope in the future stamp duty changes will be firmly in the context of the budget, not outside it.

It has been suggested — I am willing to listen to argument on it — that concessions should be made to encourage older people to move to smaller accommodation. Older people have seen an enormous appreciation in the value of their houses. It would take a lot to convince me that those who would perhaps benefit from such concessions would represent the best way to forgo revenue. We should look at this closely — I expect to hear this from so-called "left-wing" parties — in the context of equity in this debate.

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