Mon Sep 09 15:09:47 UTC 2024: ## Government Divided on Housing Investment Tax: Fine Gael Wants Hike, Fianna Fáil Wants Review

**Dublin, Ireland -** Tensions are rising within the Irish government over a potential increase in stamp duty for bulk purchases of houses by investment funds. While Fine Gael is pushing for a doubling of the existing 10% tax, Fianna Fáil, the party currently leading the government, is advocating for a more cautious approach, preferring to wait for the outcome of an ongoing review on the issue.

Junior Finance Minister Neale Richmond of Fine Gael argued that the 2021 introduction of the 10% tax had been effective in slowing down the trend of investment funds buying up large numbers of houses. However, he believes more action is needed and plans to raise the issue during budget talks this week.

Fianna Fáil leader Micheál Martin expressed surprise at Richmond’s proposal, saying it would have been more sensible to wait for the results of the stamp duty review, which is nearing completion. He emphasized the need for an evidence-based approach to such market-sensitive issues and stressed the importance of certainty for private sector investment in housing.

Taoiseach Simon Harris, leader of the third coalition partner, the Green Party, acknowledged that changes to taxation typically occur during the budgetary process. He emphasized that the government will decide on the best course of action, with the budget set to be announced on October 1st.

The disagreement over housing investment tax comes alongside a Green Party proposal for a one-off €560 child benefit payment for new parents. This proposal, aimed at easing the financial strain of new parenthood, has received positive feedback from both Fianna Fáil and the Taoiseach, who highlighted its potential to support families and tackle child poverty.

The ongoing debate surrounding housing and child benefits will undoubtedly be a focal point of the upcoming budget talks. While the government has yet to reach a consensus on these matters, the different perspectives presented by the three coalition parties highlight the complex challenges facing the Irish government in addressing key social and economic issues.

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