Tactical retreat

The Taoiseach last week announced that Fianna Fáil planned to cut stamp duty if re-elected because their focus has always been on first-time buyers, and it was the right thing to do.

Why then did both he and Brian Cowen arrogantly dismiss stamp duty reform up to now? Mr Cowen said just six weeks ago that it was a non-issue, since “the vast majority” of first-time buyers were exempt from stamp duty anyway. You have to hand it to FF — they’ve done a 180-degree U-turn, and haven’t even blushed. Isn’t it amazing what the prospect of a thumping at the ballot box can achieve?

Eric Keane