CIF and stamp duty - Better to heed Central Bank’s view

AS HOUSE prices soared members of the Construction Industry Federation made lots and lots of hay while the sun shone.

Yesterday, in a disconcerting example of the seamlessness relationship between our political and business sectors, former minister of state Tom Parlon advocated that the top rate of stamp duty be cut from 9% to 5% to help kick-start activity in the housing market.

Mr Parlon, who is CIF director general designate just months after leaving the cabinet table, advocates a move contrary to the advice of the Central Bank.