James Bannon (Fine Gael)

I welcome the Minister of State, who is present to debate the important issue of stamp duty. I endorse the points made by Senators John Paul Phelan and Brian Hayes.

In a typical Irish dance, the Tánaiste, Deputy Michael McDowell, has been advancing and withdrawing in respect of the issue of stamp duty for the past couple of months because he is apparently unsure of the political consequences for himself and his party. He is keen to avoid making a nasty slip. A number of slips have been made in respect of this issue.

Stamp duty is one of the most emotive issues facing politicians. First-time buyers and those seeking to trade down and move into smaller homes are falling victim to the cruel and, according to the Tánaiste, unnecessary tax that is stamp duty. On 18 September, the Tánaiste said the State does not need the money accrued through stamp duty. Perhaps we should thank God the Tánaiste and Minister for Justice, Equality and Law Reform was not made Minister for Finance. Not that that would have been much consolation for the efficient working of the Department of Justice, Equality and Law Reform. His performance in that Department can be summed up easily. He has promised a great deal and delivered very little, for example, in recruitment and resourcing the Garda. This will come back to haunt him over the years.