Pat Casey (Fianna Fail) | Oireachtas source

We are heading into a debate on capital gains. Capital gains tax needs to be looked at from a supply of housing point of view. It can form part of the solution. There are thousands of properties out there on short-term lettings because they are better value for money for their owners. We would much prefer to have those properties as part of the housing stock. There is a case to be made that if we reduce capital gains tax to 20%, we could get a lot of disposal of assets, which would in turn make up the revenue loss from a taxing measure point of view.

It is just an observation, but I am looking at this issue from a housing supply perspective and from the perspective of individuals who have a second property and are possibly basing their ownership on short-term letting at present. If capital gains tax was 20%, we might have a better opportunity to deliver that house into the supply chain rather than having owners sitting on it.