Sinn Féin has accused the Government of “cynical politics” as it openly debates whether to to increase stamp duty on Vulture Funds in the budget. 

Taoiseach Simon Harris has denied a U-turn over the plan, inisting a review was already underway. 

Junior Finance Minister Neal Richmond called at the weekend for the tax to be doubled, while Tánaiste Micheál Martin has urged caution. 

Sinn Féin's Pearse Doherty said taxes on vulture funds should have been increased years ago. 

“Both the Taoiseach, Neale Richmond and all of the Fine Gael backbenchers and frontbenchers - along with Fianna Fáil and the Green Party - voted against our motion earlier this year to increase stamp duty on vulture funds so that they would stop buying up homes from under the feet of first time buyers,” he said. 

“So, we take this with a pinch of salt - the time to close the gates on the vulture funds was years ago - not [just before] an election. 

“I think people will see right through this cynical politics from Fine Gael.” 

A housing estate under construction. Image: David Creedon / Alamy

Deputy Doherty added that the reason vulture funds operate in Ireland is because Fine Gael “rolled out the red carpet” for them when property prices were low. 

“Fine Gael has been in Government for 13 years,” he said. 

“Indeed, they are the party that rolled out the red carpet to the vulture funds and, indeed, the Taoiseach Simon Harris, was in the Department of Finance as a Minister when they rolled out the red carpet to the vulture funds. 

“So, it’s a bit rich listening to them floating kites at this point in time.” 

Budget 2025 is due to take place on October 1st.

Main image: Sinn Féin spokesperson on Finance Pearse Doherty outside Leinster House. Picture by: Leah Farrell/RollingNews

Reporting by Teena Gates and James Wilson.