O'Keefe confirms property tax proposal 'off the table'

Minister for Enterprise, Trade and Innovation Batt O'Keeffe confirmed today that a property tax will not be contained in Brian Lenihan's next Budget speech.

Minister for Enterprise, Trade and Innovation Batt O'Keeffe confirmed today that a property tax will not be contained in Brian Lenihan's next Budget speech.

There was speculation a property tax would be introduced in December's Budget, but that has now been dismissed by O'Keeffe.

"Well, I don't think it was ever on the table, because we hadn't discussed it," he said.

It had been one of the key recommendations in the report from the Commission for Taxation last year.

The Government needs to raise a further €3bn in next year's Budget, and the Commission had suggested a flat rate annual tax on residential properties.

Minster O'Keefe said that Cabinet is now analysing a capital spending review for 2011, and once that process is complete the attention will turn to current spending and what savings can be achieved.

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