Stamp duty cut will not be backdated to December

TÁNAISTE and Finance Minister Brian Cowen has ruled out backdating to the December budget, the abolition of stamp duty for first-time buyers.

It means home-buyers who took Mr Cowen at his word on budget day, when he indicated there would be no changes to the stamp duty regime and who subsequently purchased houses, will not get their levies refunded.

Stamp duty for first-time buyers was abolished by Mr Cowen following the election.