Enda Kenny (Mayo, Fine Gael)

The cry will be to blame the Minister, Deputy Gormley. It is a green tax and that is why he is at it and he had to be given something. It will hit hundreds of thousands of people directly.

I mentioned the stealth taxes of the accident and emergency bed charges and the drug refund scheme, which represents a €50 million tax attack on the ill in society. It is strange that the Minister told us about the Kilbeggan bypass but not about the Government's plans to take €50 million out of our pockets. That is what is left of the Progressive Democrats mudguard.

This issue of stamp duty reform typifies the desperation which the Minister for Finance, Deputy Cowen, felt in the run-in to this weekend. The Minister physically, verbally and politically opposed stamp duty every time it was mentioned. However, when the figures became clear, the big builders stated they were in the tent in Galway and the Minister had better do something about this on Wednesday. We now see the result.

I do not believe that reform at this time will restore the level of confidence in the housing market which people assume from construction elements or housing agencies. It is six months too late. Had it been done in the early summer when confidence was still at a high level it would not have stampeded the market but would have allowed it to move in a beneficial way.

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