The Fianna Fáil leader said that the “sensible” thing to do was await the publication of a review into stamp duty before calling for it to be increased.
Tánaiste Micheál Martin has rebuked Fine Gael Junior Minister Neale Richmond’s comments about the extension of stamp duty for investors as part of Budget 2025.
Mr Richmond, Minister of State in the Department of Finance, called for stamp duty of the bulk purchases of new homes by so-called vulture funds to be doubled to 20 per cent. A 10 per cent rate on Stamp Duty was introduced in 2021 by the Government on institutional investors buying more than 10 homes in the same development within 12 months.
“Generally speaking at budget time, there can be different ideas and proposals floated,” Mr Martin said. “I was surprised at Minister Neale Richmond’s comments because I would have thought the sensible thing would have been to await the outcome of the review.
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