Property tax plan to help fill '€3.5bn hole'... IMF urges help on mortgages and new tax on bank salaries: THE Government is considering a flat-rate property tax as the International Monetary Fund (IMF) warns an extra €3.5bn may be needed to meet budget targets. In a detailed analysis of the Irish economy, the IMF predicted the Government may not enjoy the hoped-for "bounce" from the recession. The Department of Finance believes that forecast is too gloomy. The difference between the two views amounts to 2pc of the country's output (GDP) and that comes to almost €3.5bn over the next five years. However, government officials agreed that a property tax would be a good way to make the public finances more stable. That is revealed in a new report from the Washington-based fund. Despite claims that a property tax is "off the agenda" in the next two Budgets, the Government told the IMF a flat-rate tax on property was under consideration "in the transition&
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