CIF seeks stamp-duty 'holiday' for home-buyers

The Construction Industry Federation is urging the Government to introduce a stamp duty "holiday" for homebuyers in next week's emergency Budget.

The organisation says the tax should be suspended until next year to help boost the property market.

The CIF is also calling for a tax-credit scheme for first-time buyers, spending commitments on labour-intensive projects and a cut in the top VAT rate.

Meanwhile, the Respond housing association is calling on the Government to beware of the effect that higher income taxes could have on mortgage holders.

The group wants Irish banks to write off all mortgage arrears for families in difficulty, as well as arrangements to allow mortgage holders renegotiate their monthly repayments.

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