Richard Bruton (Dublin North Central, Fine Gael)
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Question 218: To ask the Minister for Finance if he will estimate the Exchequer proceeds from reintroducing residential property stamp duty rate for first time buyers using rates and thresholds (details supplied). [23606/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Exemption from Stamp Duty for first time buyers of residential property was introduced in the Finance (No.2) Act 2007. I am informed by the Revenue Commissioners that the yield to the Exchequer in a full year from reintroducing stamp duty on purchases of residential property by first time buyers is estimated at approximately €7.5 million for option 1, at €2.5 million for option 2 and at €1 million for option 3. As these costs are a function of the actual and estimated number of transactions, and the price levels at which these transactions take place, they are therefore sensitive to cyclical changes in the housing market.