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Minister for Finance says focus of the €1.5 billion tax package planned for the budget would be on income tax
Minister for Finance says focus of the €1.5 billion tax package planned for the budget would be on income tax Tánaiste and Minister for Finance Simon Harris says he was 'not proposing bringing forward such measures' on stamp duty in the budget.
Photo: Sam Boal/Collins Photoshas insisted there are no plans to cut stamp duty for first time buyers in next month’s budget despite the Taoiseach indicating he was open to the idea. Harris, who is also Minister for Finance, said on Wednesday morning that the focus of the €1.5 billion tax package planned for the budget would be on incomebackbenchers have championed the idea of a cut in stamp duty, saying it would alleviate financial pressures on first time buyers and encourage homebuilding.said he has a “favourable disposition” towards the idea, saying it was a “reasonable proposal” and one that “still calls for discussion”.
Sinn Féin’s strategy is built on the hope that something will turn upCouncils must spend all excess Local Property Tax cash on housing under new plan However, Fine Gael leader Harris has strongly downplayed the idea that it could be contained in Budget 2027, due to be signed off on October 6th. Speaking before his arrival to Cabinet on Wednesday, he said everything he planned for the budget would be guided by the programme for government.
“That’s very clear that when the economy allows it, the priority in terms of taxation will be on bands and credits,” he said. Harris argued there were too many people paying the higher rate of tax on average incomes, adding that housing would be a priority in the budget but that tax measures were taken last year on housing and property – and that the Coalition had indicated then that it would not revisit the issue in order to provide stability.
“There are no proposals in relation to the programme for government around stamp duty and therefore at this moment in time I’m not proposing bringing forward such measures,” he said. “There’s a finite amount we have in the tax package, we’ve been clear that the priority this year will be personal income tax, but there will be many, many ways in which we are really looking to stimulate housing supply in the budget.
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