Ciarán Lynch (Cork South Central, Labour)
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In Mr. McDonald's opening statement, he referred to situations in which the value of agricultural land multiplied by ten times or more after it was rezoned for residential, retail or commercial purposes. In those situations there may be secondary incomes or benefits to the State through stamp duty, rates and development levies. Does the State accrue any immediate income as a result of the increase in land value as soon as the development plan is put in place?