Richard Bruton (Dublin North Central, Fine Gael)
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Question 199: To ask the Minister for Finance the estimated cost in view of recent developments in housing sales and price levels of cutting the 7% rate of stamp duty on residential property to 6%, 5% and 4% respectively while leaving current thresholds unchanged; and if he will make a statement on the matter. [22985/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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In a reply to the Deputy on 23 April 2008 (question number 15489), the then Tánaiste and Minister for Finance outlined the estimated costs of reducing the current 7% rate of Stamp Duty on residential property to 6%, 5% and 4% based on Budget 2008 projections.

I do not propose giving revised estimates as it is too early to determine what the final Stamp Duty yield for this year is likely to be or to make a reasonable projection for 2009. I would add, however, that the cost of the changes outlined above is likely to be less than that quoted in the reply on 23 April 2008 if the yield from Stamp Duty on residential property is substantially lower than the published projections.