Fine Gael stamp duty proposals will only further line the pockets of property developers
Sinn Fein Ard Chomhairle member Pearse Doherty speaking as the party finalised its election preparations, spoke out against Fine Gael's proposals to amend stamp duty. Mr. Doherty described the proposals as “ill-thought out” and said that they would do “nothing for house-buyers but would benefit property developers who would simply increase their prices to take account of stamp duty costs.” He was speaking following a party leadership meeting to finalise election preparations.
Mr. Doherty said: “Fine Gael proposals to reform stamp duty are ill-thought-out. Any changes will not translate into a reduction in house-prices for buyers. Due to weak policy of successive Governments, any difference that it could potentially make would merely translate into extra profit for developers who would pocket the difference rather than the state.
“First time buyers certainly need help. Sinn Féin is proposing an increase in mortgage interest relief and the ring-fencing a proportion of stamp duty for reinvestment in social housing provision. This measure, alongside
amending the Planning and Development Act to remove the ‘get-out clauses’ for developers in Part V, would be more beneficial to house-purchasers rather than the developer, which every other Government policy has been
aimed at.” ENDS