Gerard Craughwell (Independent) | Oireachtas source

This is the first time I have addressed the Minister of State, Deputy Richmond, since he was elevated to the role of Minister of State. He must be delighted with this budget today. I am dreading his Instagram account. He will be standing in front of housing estates all over south County Dublin talking about the great job he has done. In fairness, the budget is a good one. It would be remiss of me to say it is a great budget, but it is a good one.

I am a bit disappointed, however, with the across-the-board €12 increase in social welfare. Elderly people in this country have contributed with their blood, sweat and tears down through the years to the great country we have today. I believe the Minister of State’s party, Fine Gael, wanted to reward the elderly for their work with more than €12 per week. Honestly, €12 per week is not going to do a lot for an elderly person or couple. While I appreciate there is some assistance coming in the area of fuel allowance and the like, €12 per week is just a tad miserable at this stage. This is an extremely wealthy country now and we can afford to do a lot more.

I am delighted to see stamp duty for the bulk-buying of houses increased. I acknowledge the Minister of State’s commitment, all laughing and joking aside, to housing. I have seen the work he does on the ground in the constituency I live in and the Minister of State represents. I acknowledge that. While the stamp duty has increased to 15%, I would like to see it higher. We really need to disincentivise these vulture funds in order to make property more available and more accessible for younger people.

It is wonderful, given the days of hoarding we have seen, to see the residential zoned land tax. The Minister of State will know that there are large builders in our own area who bought massive tracts of land. Admittedly, they are moving along as they develop, but we should be able to see development much faster in that area.

I wish to say one thing about personal taxation and particularly USC. I am holding a Fine Gael photograph in which it states, “abolish the USC”. Why was it not abolished?