The Progressive Democrats are pledging to immediately reform stamp duty on houses if they form part of the next Government.

Sinn Féin MEP Mary Lou McDonald has stated Sinn Féin’s opposition to Fine Gael and Labour’s proposals to abolishing stamp duty announced today.

First-time buyers are being forced to pay back millions of euro in stamp-duty relief for breaking rules on letting part or all of their newly-purchased properties.

Minister for Finance Brian Cowen is reportedly set to resist pressure to introduce reforms to the stamp-duty regime in Wednesday's Budget.