Cowen u-turn on stamp duty predicted
One of Ireland's most well-known economists is predicting that Minister for Finance Brian Cowen will row back on his vow not to change the stamp-duty regime in this December's budget.
Mr Cowen has insisted that he will not use the budget to interfere in the housing market, but there is growing speculation that he may change his stance due to increasing political pressure.
The Taoiseach and his ministers are understood to be debating possible reform of stamp duty and mortgage relief at their Cabinet meeting today.
Friends First economist Jim Power says the pressure for change appears to be mounting, but Mr Cowen is unlikely to completely abolish stamp duty for first-time buyers.
Mr Power is instead predicting an increase in the stamp-duty thresholds to ease some of the cost for first-time buyers.
