McDowell's figures don't add up?

[Maximus]

It would appear McDowell erred when he said the €2.6bn raised through stamp duty was coming from the “coping classes.”

Figures released yesterday by the Department of Finance show only a third, €945m, is raised actually raised through ‘residential’ stamp duty. The remaining €1bn-plus comes from duty on commercial property deals, and €672m comes from stamp duty on a variety of sources.

However the official figures have also confirmed the abolition of stamp duty for first time buyers would cost less than €70m pa.

While McDowell may have erred in his figures, the policy debate he's started is definitely a refreshing change to the usual claptrap of negative spin the opposition come out with. Perhaps they will use this initiative to publish their alternative policies.

And from The Irish Times:

• Government advisers, including those from the Progressive Democrats, were warned last year that easing stamp duty levels would be too costly and would actually increase house prices.
  
  Economic experts from the Department of Finance advised that the Government "should refrain from introducing any new tax interventions affecting the housing market" in the December budget last year.
  
  The advice was provided in a paper to the Tax Strategy Group, which meets regularly in the run-up to the budget and which includes Government special advisers from both the PD and Fianna Fáil as well as senior civil servants.
  
  The paper states that the Government advisory body, the National Economic and Social Council, had suggested in 2005 that reform of the current stamp duty regime should be considered. The reforms considered and rejected last year were similar to those now being mooted by Tánaiste and PD leader Michael McDowell, such as increasing the stamp duty thresholds or introducing a banded system similar to income tax.

[rockofcashel]

without qishing to sound over cynical, but do you think Mc Dowell doesn't know, nor care, whether they add up or not.

Lets be honest, it's not going to happen anyway, but it was a hell of a kite to fly to get publicity by him.

Mc Dowell is in the electoral process already. He knows he needs t oput clear blue water between himself and FF before the voters make their minds up before the next election.

By starting a number of "staged rows" like this, he is attempting to con the voters, and so he picked a frankly brilliantly populist idea, and threw it out to the public.

Who was going to attack the idea ? No-ones going to make a case for keeping taxes in the current environment. Therefore, he gets a free media run..

FG could have by pointing out he could walk after the budget if it didn't happen, but hadn't the whit to make him put or shut up.

Mc Dowells playing games. He's going nowhere, but constantly giving the impression he'll walk. He's like the drunk outside the pub, who instead of getting stuck into a fight, is roaring for his friends to "hold me back, let me at them".

And he'll fool some people with it.

[ACrowley]

If you heard McD in full you would know he in fact didn't err on the figures. He said total is 2.6 billion, of which 2 billion is property, of which half is residential. The reason the PDs are considering options is to see result of Dept of Finance study into how much of the 1 billion is first time buyers or people trading up. Simple really. And it is worth noting that this is a "next govt thing" so walking out was never a consideration.

[FutureTaoiseach]

Well if it's not worth €2.6 billion then it strengthens the case for scrapping the blasted stamp-duty doesn't it?

[mjcoughlan]

Well if it's not worth €2.6 billion then it strengthens the case for scrapping the blasted stamp-duty doesn't it?

That's what I was thinking.

[ACrowley]

Well if it's not worth €2.6 billion then it strengthens the case for scrapping the blasted stamp-duty doesn't it?

That's what I was thinking.

That's what the PDs are thinking.

[joemomma]

While McDowell may have erred in his figures, the policy debate he's started is definitely a refreshing change to the usual claptrap of negative spin the opposition come out with. Perhaps they will use this initiative to publish their alternative policies.

Were you able to keep a straight face while typing that?

[Biffo]

While McDowell may have erred in his figures, the policy debate he's started is definitely a refreshing change to the usual claptrap of negative spin the opposition come out with. Perhaps they will use this initiative to publish their alternative policies.

Were you able to keep a straight face while typing that?

Why, his correct.

McDowell knows what he is doing here and as his stated intention is to take support from FG this is exactly the kind of kite that may deliver on that goal. Is there a FG response to this and whatg is their position in relation to stamp duty?

[joemomma]

Why, his correct.

Whether he's correct or not, Maximus/TKWhiskers accusing others of "negative spin" is just too delicious to let pass without comment.