Exchequer to reap bonanza from stamp duty

THE Exchequer is set for a multi-million euro stamp duty and vat windfall as 12,000 civil servants get ready to leave Dublin.

The exchequer will make an average of 22,200 in stamp duty on every house sold by civil servants leaving Dublin and moving to the provinces under the decentralisation scheme, unveiled yesterday by Finance Minister Charlie McCreevy in his budget speech to the Dáil.

Based on an average price of 370,000 for Dublin second-hand homes stamp duty of 6% applies netting the Exchequer 22,200 on each sale.