Paul Coghlan (Fine Gael)

As Senator O'Toole said, the closure of the rescue stations at Valentia and Malin would be a retrograde step. I have referred to this. These are two long-established stations which have rendered sterling service to the State as marine rescue centres. They are fine buildings and the staff are in place. It would be easier to upgrade these than to build anything new on the east or west coast. This was recommended, apparently, in a consultants' report some time ago. I do not know why the Government has ignored this. I join Senator O'Toole in pleading with the Government to reconsider this and stop the madness.

In view of the slowdown in the economy and the stagnant state of the housing market, I hope the Minister for Finance will take the opportunity today to reform the current stamp duty regime. The 9% rate of stamp duty is penal. We all know from our contacts throughout the land what is happening. There is a pent-up demand in the housing market but it has become stagnant because of the stamp duty rules. I hope the Minister will act today to bring life and stability back to the market and restore some measure of confidence.