The Government's measures to dampen down house prices have been greeted with scepticism by opposition parties, with predictions that the changes will benefit builders and sellers, not buyers.
Fine Gael's finance spokesman, Mr Michael Noonan, said the measures were belated, and included many of the proposals advocated by his party. His party colleague, Mr Brian Hayes, claimed the proposals were a missed opportunity to make a dramatic difference to the plight of first-time buyers.
According to Labour's spokesmen on environment and finance, Mr Brendan Howlin and Mr Derek McDowell, the reduction in stamp duty would merely provide an immediate benefit to those currently buying houses. "The Government's decision to reject the Bacon Report's recommendations to repeal Section 23 reliefs for investment in private rented accommodation is regrettable," they said.
Describing the measures as "inadequate", Mr Eamon Gilmore of Democratic Left said the principal beneficiaries would be builders, developers and landowners rather than those trying to scrape the purchase price for a family home.
While acknowledging that the proposals contained some "useful" measures, the Green Party spokesman on economics, Mr Dan Boyle, said the package was unlikely to have much effect.