Vol. 527 No. 3
212 Ms Shortall asked the Minister for Finance the rationale for the continuation of the 2% stamp duty on house insurance premia in view of the hardship which this imposes on low income individuals and families; and if he will make a statement on the matter. [28724/00]
Stamp duty at 2% is imposed on almost all non-life insurance premia, including house insurance premia. The exceptions from this levy are reinsurance, voluntary health insurance, marine, aviation and transit insurance and export credit insurance. The levy was introduced to broaden the stamp duty base, thereby raising additional revenue from a source other than income tax. The yield from this source was £37.9 million in 1999.
