Dáil to vote on stamp duty hike to stop cuckoo funds buying up family homes

Ministers are effectively approving a mini-budget to deter cuckoo funds from gazumping families

The Dáil is set to vote tonight on a Cabinet proposal to increase stamp duty to deter investment funds from squeezing out first-time buyers, the 'Irish Examiner' understands. Picture: Larry Cummins

The Dáil will have to vote before midnight tonight on a proposed increase in stamp duty for investment funds to deter them from gazumping first-time buyers, the Irish Examiner understands.

In what is technically a mini-budget, ministers will today approve measures that will seek to deter and limit the ability of investment funds from buying up large numbers of family homes in estates, ahead of young families.