I am informed by the Revenue Commissioners that the information furnished on tax returns does not generally require the yield from a particular sector or subsector of trade to be identified. Except for value added tax, VAT, and stamp duty, the amount of tax collected from the various activities specified in the question cannot be readily identified from the overall taxation yield. Accordingly, the specific information requested by the Deputy is not readily available in the form requested.
In the case of stamp duty, the total collected from residential property in 2003 was €528 million. However, data are not collected in a manner which would allow for a more detailed breakdown of this yield. Stamp duty is also chargeable on transfers of sites at the appropriate rates for non-residential property but it is not possible to determine what proportion of the total stamp duty yield on non-residential property relates to site transfers.
In the case of the sale of a new house or apartment to a purchaser, VAT applies at the reduced rate of 13.5% both on its construction and on the site where these are connected contracts and is included in the final price of the property to the purchaser. No VAT applies in respect of the purchase of a second-hand house. The relevant information available in respect of VAT is the estimated yield.
With regard to 2003, the VAT yield from the sale of new housing is estimated at approximately €1,250 million and the VAT yield from the maintenance and repair to all housing is estimated at approximately €320 million. With regard to inheritance tax, it is not possible to separately identify the yield relating to bequests of house property from within the overall tax yield. The net receipts associated with all inheritance tax was €131 million in 2003.
I remind the Deputy that under this Government house building has reached record levels, double the rate when his party was last in office. The best way to provide people with houses is to build them, and that is what we have done. Subsidising the purchase of houses without increasing their supply will only drive up prices. I also remind the Deputy that, as recently as budget 2003, I improved and enhanced mortgage interest relief and extended first-time buyer relief from five to seven years. It is my intention to continue with sensible fiscal policies in this area.