The Government is introducing a new mansion tax, a third rate of stamp duty at 6% for properties over €1.5 million, aiming to create a progressive taxation system.
Minister Chambers emphasized the need for a progressive tax system, stating that properties valued over €1.5 million should pay additional stamp duty to balance revenue and policy measures.
He contended that the decision is not aimed at reducing housing prices but rather at ensuring those who can afford high-value homes contribute more to the tax system.
Public Expenditure Minister Paschal Donohoe mentioned that the budget includes enhanced family benefits while highlighting that decisions regarding family size remain personal choices for families.
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