Madam, - Given the recent decline in the state of the public finances, and the rapid slowdown in the property market, might the Government consider this an opportune time to look at reforming the current system of stamp duty on property?
One option, which I understand is now being considered by British prime minister Gordon Brown, might be to suspend all stamp duty for a set period (say, five years) with a view to introducing a new and better-focused system of property taxation thereafter.
The ensuing boost to economic activity might well exceed the losses in stamp duty revenues in the short term. In the longer term we would have the opportunity to develop an efficient system of property taxation. - Yours, etc,
REAMONN LYDON,
Marino Park,
Dublin 3.