Brian Cowen (Laois-Offaly, Fianna Fail)

I thank the Senators for their comments. We made a commitment in response to others creating uncertainty and speculation. I stated my position in the Budget Statement. It should be remembered that in the period before the budget, people were talking about wholesale reform of stamp duty by cutting rates and changing thresholds. That was the context in which the debate was taking place. In fact, at its most extreme, there was a suggestion that we could eliminate stamp duty. However, the debate was about stamp duty reform by cutting rates and extending thresholds. I stated in the Budget Statement that in the current market situation any stamp duty cuts would, more likely than not, be incorporated in the sale price and end up in the pocket of the seller. That was my position. I made that statement on the basis of trying to bring certainty to the situation and answering the case.

I have not brought forward a Bill to cut rates or extend thresholds. If I were to be popular, Senator Norris, or if I were to comply with the stereotype for Fianna Fáil, whose members are depicted as opportunists and political professionals who will do or say anything to get back into office——