Mon Sep 09 14:15:59 UTC 2024: ## Taoiseach Denies U-Turn on Vulture Fund Stamp Duty, Hints at Possible Increase in Budget 2025
**Dublin, Ireland** – Taoiseach Simon Harris has denied that the government is performing a U-turn on the issue of increasing stamp duty on homes bulk-purchased by vulture funds. This comes after Junior Minister Neale Richmond called for the tax to be doubled from 10% to 20% in Budget 2025.
While the government previously opposed a Sinn Féin motion to increase stamp duty on vulture funds, Harris insists that the situation has evolved since January. He stated that the government is committed to keeping stamp duty under review and that any changes to taxation will be addressed through the budgetary process.
Harris’s statement suggests that an increase in stamp duty for vulture funds is being considered for the upcoming Budget 2025. The government believes that the current 10% rate, introduced in 2021, has not been effective enough in deterring the bulk purchase of homes by investment funds.
The government’s review will examine the current stamp duty rate and consider other measures to address the issue of vulture funds. While the Taoiseach maintains that no decision has been made, this statement indicates a shift in the government’s stance, potentially leading to stricter regulations and higher taxes on investment funds buying homes in bulk.
First Piper 