PDs pledge Stamp Duty reform this summer

[David Cochrane]

The Progressive Democrats have pledged to introduce Stamp Duty reform in a new Government before the Dáil summer recess.

Michael McDowell stressed that once the reform was implemented, homebuyers would be paying less immediately.

“Large Stamp Duty bills are impacting upon workers who need the freedom to move between regions, as well as older people who want to move to smaller second-hand homes when their children leave the family home,” he said.

“To ensure maximum market stability, we will implement our reform with immediate effect. There will be no ‘phasing in’ period. We will do this through legislation enacted before the new Dáil rises for the 2007 summer recess.”

The changes will mean Stamp Duty on the average national house price will reduce by €8,250 (€15,500 to €7,250). In Dublin, the reduction will be €17,050 on average (€32,250 to €15,200).

[krayZpaving]

Isn't Stamp Duty a budgetary matter? Is McDowell proposing an emergency mid-year Budget to deal with this?

I suppose it doesn't matter anyway - there's no chance of the PDs being in Government after the election.

[FakeViking]

Isn't Stamp Duty a budgetary matter?

Not any more, it's now an electioneering matter!

[Limerick Lad]

Will this pledge bring down the mighty wrath of their coalition partners FF in the same way it did on the LAB/FG plans announced yesterday.

[The Earl of Desmond]

Funny how they never thought of doing this a few weeks ago when the budget was being introduced?

[President Bartlet]

Doesn't matter what Mickey says cause he would be in govt in the summer

[KingKane]

Will he also refuse to serve in a government that doesn't implement this during the summer like his pledge on the incinerator?

I reckon that the incinerator is McDowell's Barrington's Hospital, for anyone that knows PD history.

[Ponzi]

One of the sectors of the economy seeing most growth in employment terms, construction will be most effected by this reform. The house builders have an advantage over the second hand market at the moment. Because much of their output is not liable to stamp duty. Once the reform is in place the supply of stamp duty free properties will increase, putting pressure on demand for new build housing, where starts are already falling. This is likely to impact on employment in the sector. The law of unintended consequences strikes again.

[drjimryan]

Real issues
Real Politics
Real Ability......................We really need Mcdowell in Government......

Bert, Noel and Brian should be in the baboon display in the park.......

Hello the rest.........Goodbye employers.........

[dealmachtigeier]

The Progressive Democrats have pledged to introduce Stamp Duty reform in a new Government before the Dáil summer recess.

Michael McDowell stressed that once the reform was implemented, homebuyers would be paying less immediately.

“Large Stamp Duty bills are impacting upon workers who need the freedom to move between regions, as well as older people who want to move to smaller second-hand homes when their children leave the family home,” he said.

“To ensure maximum market stability, we will implement our reform with immediate effect. There will be no ‘phasing in’ period. We will do this through legislation enacted before the new Dáil rises for the 2007 summer recess.”

The changes will mean Stamp Duty on the average national house price will reduce by €8,250 (€15,500 to €7,250). In Dublin, the reduction will be €17,050 on average (€32,250 to €15,200).

This is part of the party's press release, right?

Why isn't it on the party's website? Or is contributing to the party's election performance not part of the remit of HQ staff??