Mary Hanafin (Dún Laoghaire, Fianna Fail)

I appreciate that people are coming under pressure and understand how we would get representations on extending the deadline but there is no doubt that 2004 was the year in which prices shot up. The peak years were 2006 and 2007 but prices have since returned to 2004 levels. We are discussing seven tax years rather than calendar years. In discontinuing any tax relief, it is important to set a definite date. People have fallen just outside the deadlines set in every scheme introduced. While naturally one would be sympathetic to doing as much as possible for those who find themselves in negative equity, the scheme is intended to target those who suffered the most because they purchased houses in 2004. For that reason, and because of the potential loss of income to the Exchequer, I do not propose to accept the amendment.

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