Sir, - The recent decision of the Minister for Finance to increase levels of stamp duty will in time be seen for what it is another property tax on the people of Dublin. In essence this tax is anti Dublin and unjust. Coupled with the Budget day reduction in mortgage interest relief it comes as a blow to many hopeful housebuyers already struggling with Dublin's rocketing house prices. I urge the government to reverse this decision without delay. Like other EU countries we must work towards a zero stamp duty rate.
This government gives with one hand and takes away with the other. They have replaced the punitive property tax with an equally punitive increase in stamp duty. Like the property tax the stamp duty changes are a tax on Dublin, given house prices in Dublin are considerably more expensive than in the rest of the country. In my own constituency of Dublin South East many modest homes will now be caught in the government's higher stamp duty net. There are few first time houses in central Dublin and, in the current market, increasingly few family homes can be bought for less than £150,000. It is simply a case of one unjust property tax replacing another and once again people are being punished simply for living in Dublin.
It is worth reminding people that it was the Labour Party who introduced the Residential Property Tax in the first place. The RPT was only abolished when the depth of public anger became apparent. However it is clear that the Labour Party retains a strong ideological commitment to this form of taxation and have now foisted an equivalent tax on the people of Dublin. Judging by public feeling on this, and other issues, the Labour Party are in for a rude awakening when they finally pluck up the courage to face the electorate. - Yours, etc.,
Fianna Fail candidate
Dublin South East,
Harcourt St,
Dublin 2.
