As the Deputy is aware, in the Finance (No. 2) Act, 2000, I introduced a three tiered stamp duty structure for first time buyers, owner-occupiers other than first time buyers and investors of second hand houses. I increased the exemption from stamp duty from £60,000 to £150,000 in the case of first time buyers and for other owner-occupiers to £100,000. Rates of duty for first time buyers at values up to £300,000 are 25% less than for other owner-occupiers. In particular, the revised regime is structured to facilitate those who are trying to buy their first home and who are faced with par ticular difficulties in the market at the present time.
The stamp duty rates now applying for first time buyers and other owner-occupiers compared to the previous rates applying prior to the Finance (No. 2) Act, 2000, are as follows: