Martin Kenny (Sligo-Leitrim, Sinn Fein) | Oireachtas source

I was talking about amendment No. 66. The Minister said this amendment would result in a loss of €32 million to the Exchequer if the stamp duty was reduced from 6% to 2%, which the amendment requests. I am quite confused about that figure because if 4% represents €32 million, it would suggest that there is approximately €800 million in agricultural land sales in the country.

That appears to be a serious exaggeration. Will the Minister clarify whether this figure relates solely to agricultural land and does not include land sold as sites for development and afforestation, categories which fall outside the definition of agricultural land? I expect the figure would be much lower if it were based on agricultural land sales only.

Amendment No. 68, which relates to stamp duty, has been ruled out of order. I have encountered a case involving a lady who was paying a mortgage on a commercial premises. When the mortgage was bundled up with others to be sold she was refused permission to buy it at the same price for which it was subsequently sold to an investment fund. This is one of the great injustices done to be people who have paid their mortgage, whether on commercial or residential property. They are caught in a bind as their properties have been taken from them. I fully support the proposal in the amendment proposed by Deputies Mattie McGrath and Fitzmaurice to force banks and other institutions in control of mortgages and commercial property loans to offer these loans for sale to individuals who would like to buy them back and continue to pay for and own their properties?