Finance Minister defends hiking stamp duty to 6% on homes over €1.5m

Public Expenditure Minister Paschal Donohoe and Finance Minister Jack Chambers in RTÉ, where they took part in the annual post-budget phone-in on the Claire Byrne show. Picture: Brian Lawless/PA Wire

Raising stamp duty on houses valued at more than €1.5m is “appropriate”, as people buying those properties can afford to make a greater contribution, the Finance Minister has said.

Jack Chambers confirmed on Tuesday that stamp duty rates on all homes worth over €1.5m will rise to 6% from 2%.