Stamp duty cut for first-time buyers on table for Budget 2027, Taoiseach says

Micheál Martin says there is still time to discuss tax cuts as he signals support for a proposal from Seamus McGrath

Taoiseach Micheál Martin at Fianna Fail's annual think-in at Tullamore Court Hotel in Tullamore, Co Offaly. Picture: PA

The Taoiseach has put the removal of stamp duty for first-time buyers on the table for October’s budget, saying he has a “favourable disposition” towards the cut.

Micheál Martin said there is still time for discussion on tax cuts ahead of Budget 2027, saying he supported proposals by Seamus McGrath to remove the tax for first-time buyers.

“I have a favourable disposition towards that… That’s an issue that still falls for discussion,” Mr Martin said.

Asked if he meant the proposal was on the table, Mr Martin said: “I’m simply just giving my view, but obviously there’s lots of issues on the table.

“Not all of them make it over the line, but I think it’s a reasonable proposal by Deputy McGrath.”

Currently, stamp duty is charged at a rate of 1% of the property’s value up to €1m, before rising to 2% between €1m and €1.5m, while all properties over €1.5m are charged 6%.

Mr Martin said there had been a big difference made to first-time buyers through schemes such as Help to Buy and the First Home Scheme.

One-off payments

It comes as Mr Martin all but ruled out the return of one-off payments in the upcoming budget, saying they reduce the Government’s ability to deal “substantively” with issues.

The Taoiseach said he “cannot see the capacity within Government” to roll out universal energy credits in October’s budget.

Speaking at the Fianna Fáil think-in in Tullamore, Mr Martin said the Government opted to end one-off payments in 2025 “for a reason”.

“We wanted to focus public expenditure on more permanent measures, both in social protection and in areas like childcare,” Mr Martin said.

“The more you put into one-off payments, the less you have to reduce your childcare costs for families.

“Every time you do a one-off payment, say if you have a billion or two billion in one-off payments, you’re reducing your capacity to deal more substantively with issues that matter to people on an ongoing basis, not just on a one-off basis.” 

Cost of disability 

Mr Martin added the cost of disability would be a focus in the upcoming budget, with social protection minister Dara Calleary working on a cost of disability proposal.

“We will not be able to do everything in one year, but that would be a very significant change. It would mean a lot to people with disabilities,” Mr Martin said.

He added he hoped there would be a transport initiative for people with disabilities.