Written answers

Thursday, 24 April 2008

5:00 pm

Photo of Tommy BroughanTommy Broughan (Dublin North East, Labour)
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Question 57: To ask the Tánaiste and Minister for Finance if he will reconsider activation of section 110 of the Finance Act 2007; if, in relation to the report finalised by Goodbody Economic Consultants, he will confirm that he preferred not to highlight the findings of the report or its treatment; and if he will make a statement on the matter. [15592/08]

Photo of Brian CowenBrian Cowen (Minister, Department of Finance; Tánaiste; Laois-Offaly, Fianna Fail)
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The commencement of Section 110 of the Finance Act 2007 is kept under constant review and any further consideration has to take into account the prevailing circumstances in the housing and property markets. The Deputy's question presumably arises as a result of a recent newspaper headline stating "Department of Finance wanted stamp duty report put on hold". The document giving rise to this article was released under a Freedom of Information request and it related to a briefing for the Chairman of the Revenue Commissioners attendance at the Public Accounts Committee in December 2007. In this regard, the briefing reflected the fact that the report had been recently received and in that context "Finance have advised that they would prefer not to highlight the findings of the report or its possible treatment (i.e. commencement or non-commencement of Section 110) at this stage until the Report and its implications have been fully considered." There was never any question of the findings in the Goodbody Economic Consultants Report being withheld. It was always my intention to publish this Report and it was actually placed on the Department of Finance website on 1 February 2008.

Photo of Róisín ShortallRóisín Shortall (Dublin North West, Labour)
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Question 59: To ask the Tánaiste and Minister for Finance the substance and the time line of Government plans to introduce a windfall tax on gains made by landowners and property developers; and if he will make a statement on the matter. [15615/08]

Photo of Brian CowenBrian Cowen (Minister, Department of Finance; Tánaiste; Laois-Offaly, Fianna Fail)
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The Deputy will be aware that the Programme for Government does not include provision for the introduction of such a tax and there are no plans, at this stage, to introduce a tax of this type.

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