Minister for Finance Brian Cowen defended the Government's abolition of stamp duty for first-time buyers in the face of strong Opposition criticism.
"Our proposals, in line with the entire policy approach of this Government, are both progressive and responsible. They are the right measures for our economy and for our society," he said.
He added that by targeting first-time buyers immediately and directly, the Bill's proposals would have an important socially-equitable impact at reasonable cost to the exchequer and without causing unnecessary disruption in one of the State's most important industries.
Fine Gael finance spokesman Richard Bruton said that Mr Cowen had helped to vote down reforms to extend the thresholds at which stamp duty would apply to first-time buyers.
"Sadly, many first-time buyers took him at his word. And I have e-mails and letters from people who have paid 25, 26 and 27 thousand euros in stamp duty during the period to March 31st confident in the belief that the Minister stood by his word at Budget time. Those people feel deeply let down," he added.
Mr Bruton claimed the Bill was not part of any strategy by the Government to help those who were disadvantaged in the housing market.
Labour spokeswoman Joan Burton said that under the Bill there was no restriction in the size of property whether new or second-hand. Therefore, the proposal was a particular advantage for very well-off people.
"This measure is tilted very much at the better-off," she added. "The number of first-time buyers, who are ordinary first-time buyers, who will benefit from it will probably be quite limited."
The measure was passed by 79 votes to 66.
