The Government's troubles are not all emanating from Dublin. Next Thursday the opening salvo of what could be a damaging campaign will be launched from the west where the value of many holiday homes has been cut by an estimated 20 per cent following the introduction of a new property tax and higher stamp duty. A public meeting organised by a core group headed by Clifden estate agent Matt O'Sullivan has been called for the Belmont Hotel in Knock where plans will be announced for a concerted drive against the new measures. The group's argument is that the housing shortage in Dublin should be dealt with in Dublin and has no bearing whatsoever on holiday homes in the west.

The measures also show how little the Government knows about those so-called speculators. Surely there is a world of difference between a businessman assembling a portfolio of apartments for letting and a family who want to sink some hard-earned money into a bolt-hole by the sea.