Danny Healy-Rae (Kerry, Independent) | Oireachtas source

The increase in stamp duty will have an adverse effect on many farmers over the age of 40 years who are still active. These fellows are trained as they have trained every day since they were 15 or 16 years old when they started farming. The rate of stamp duty applicable to them has gone from 2% to 7% in the past couple of years. It is a massive increase for them. The nature of farming is such that someone must increase his or her holding, if possible, if anything comes up nearby. Farmers need to increase production to stay in the game, but this measure will adversely affect those who do.

There is no clarity in cases where a young fellow or couple want to buy a site, as opposed to a house. Will they also be charged the higher rate of stamp duty? There is also the question of increasing stamp duty on commercial buildings where somebody is trying to acquire an old building or perhaps improve the aesthetics of a town. The increase will adversely affect people where the value may be less than €200,000. We cannot get blood from a stone or a turnip as people do not have extra money to pay stamp duty when they are purchasing places such as this or putting money in to try to rejuvenate or revitalise a place. They are being hurt by these measures.