Micheál Martin (Cork South Central, Fianna Fail)

Before the 2007 general election, the then leader of the Labour Party, Deputy Rabbitte - who was subsequently removed from that position - was first out of the traps in the context of promising further tax reductions. We accept some culpability in respect of reducing the tax base, a matter to which both reports refer. However, the Labour Party wanted to reduce that base further and to abolish stamp duty. That would have only exacerbated the overheating in the property market.

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