Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

The people for whom social welfare is their sole income may defer. We have done the calculations. If one was to defer for 20 years and pay the 4% interest at simple interest, one would owe less than 5% of the total value of the house by the time 20 years was up and whatever transaction would pass the house onto the next generation occurred. The deferral system is built in and of course, it protects people who cannot pay but we want to be fair. For too long we have had a situation where the burden was placed very heavily on the shoulders of those who pay and seem to pay for everything. On this occasion, I do not want a situation, as I said in the Seanad, where 70% of people in a former local authority estate are tenant purchasers and are liable for the property tax while 30% are tenants of the local authority and are not liable at all. That is not fair.

The Deputies are good at their jobs on the ground. I have a fair idea of the work they put in but if they know what is happening with housing policy in recent years, they will know that local authorities are buying in the private housing estates. How can I introduce a tax where everybody on a mortgage in the estate is paying the property tax while those who are tenants of the local authority are not paying anything?

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