Finance Minister, Brian Cowen's Finance Bill unveiled a number of measures designed to boost enterprise and had a distinctly 'green' tinge with initiatives to cut CO2 emissions.

The bill, Mr Cowen's fifth, formally brought in to effect measures introduced in December's Budget such as the Stamp duty cuts for first time house buyers, the revised Vehicle Registration Tax regime and social welfare increases and tax band increases.

It also introduced a number of new measures, including new tax rates on profits from petrol and gas production.

The rates will range from 5% to 15% and will depend on the profits made by an oil field. The new tax is in addition to the corporation tax rate of 25% in this area.

The Tanaiste also introduced a new tax initiative aimed at encouraging business to purchase certain energy efficient equipment that will allow companies to claim the full cost, in the year of purchase, of the equipment against their taxable income.

He also made provision for the legal recognition of carbon credits as securities that can be bought and sold on the home or global market.

Legislation to enable the introduction of a new Stamp Duty system known as e-stamping was also brought into force. This will allow a full online process where the property seller can file, pay and receive an instant stamp without Revenue's needing to see the deed in most cases.