Friday, 30 April 2021
Nithe i dtosach suíonna - Commencement Matters
I understand the point the Minister of State is making but the figures he has given are half what they were in 2009. There is no mistake but that stamp duty is a tax on mobility and it disproportionately affects young people in Dublin. For people who want to buy a house in the Dún Laoghaire area, it is a very significant burden and it particularly affects first-time buyers, young buyers or small families trying to move out of an apartment and into a house. It is a disproportionate and arcane tax that is arbitrary in many respects but it also double-taxes people because after they have made that move, they are expected to continue to pay local property tax to fund local authority activities.
The Minister of State mentioned a figure of €156 million going into the Exchequer, which is a small amount. We should incentivise people to move homes as much as possible, particularly after a pandemic when they may well have found that it is easier for them to live in another area and work remotely.We should be facilitating that and encouraging people to do it. The reality is that stamp duty does the opposite. I ask the Minister of State to consider changing that situation.