Seán Ó Fearghaíl (Kildare South, Fianna Fail)
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Question 88: To ask the Minister for Finance his views on the correspondence (details supplied); and if he will make a statement on the matter. [48085/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The recommendation for the immediate abolition of Stamp Duty in current economic conditions would see Exchequer receipts fall even further, at a time when it is vital to preserve resources. While the correspondence forwarded by the Deputy relates to Stamp Duty, it relates primarily to Stamp Duty on property. It is estimated that Stamp Duty net receipts for 2009 will be in the region of €900m, of which it is expected that residential property will account for €143m and non-residential for €160m. These estimated figures are based on the yield in the year to date. Should Stamp Duty be abolished, this loss to the Exchequer would have to be made up elsewhere. Stamp Duty on property will be reviewed in the context of potential changes to the taxation of property, such as the Commission on Taxation's recommendation to introduce a residential property tax and the commitment in the renewed Programme for Government to introduce a Site Valuation Tax on non-agricultural land.