Caoimhghín Ó Caoláin (Cavan-Monaghan, Sinn Fein)

I regret that the amendment tabled by my colleague, Deputy Morgan, on the tax placed on transactions at ATMs was not allowed. It is a matter for another day.

I support amendment No. 2 tabled by Deputy Burton. We highlighted a number of statistics on Second Stage but when one takes on board that 36,000 out of the 38,000 first-time buyers in 2006 paid no stamp duty, it demonstrates that the numbers who will benefit from the Minister's stated intent in this legislation will be extremely small. More worrisome is that those who will benefit are most likely to be those who can most afford to pay the stamp duty demand. We cannot lose sight of this in evaluating the steps to be taken. The average house in the State cost €278,000 in April of this year and no stamp duty is paid on houses costing less than €317,501. While the Minister has not indicated a willingness to revisit the construction of the proposal, this amendment seeks to allow the commission on taxation to examine the anomalies that make it difficult and in some instances impossible for families to trade up.

It must be recognised that many first time house purchase transactions are carried out by single people and couples without children. However, people's circumstances change. While they may have been very comfortable in the apartment or starter home in which they set out in life as independent adults in society, they may find that the accommodation is inadequate to meet the needs of young children and growing families. There is every justification for addressing these anomalies that make it extremely difficult for people to trade up in line with their need. It is important to emphasise need. It is not that people simply aspire to something grander. They need to move to accommodation commensurate with their family's requirements. It is to represent them that I support this proposition. There is a basis for an examination of what is possible in addressing the various restrictions, obstacles and curtailments currently in place for people moving up the property ladder in terms of scale to meet the needs of growing families. I hope the Minister will respond positively.

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