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

I thank the Minister for his reply. The issue raised is quite unusual. We had the announcement on budget day and the following day the Minister for Agriculture, Food and the Marine, Deputy Creed, informed us that the increase was not going to apply to farmland. We all said "Fine, great, it is not going to apply to farmland". It turns out that the Minister was mistaken and that the increase applies to farmland. The Minister for Finance says that the measure is to encourage the transfer of land early in the career of the farmer rather than waiting for him or her to reach his or her 80s or 90s.

That is what was encouraged but now the Government has changed the policy and will allow people to live to 100 while keeping the land. The day before they pass on to the Lord, they can transfer the land back without any stamp duty being imposed. The very policy the Government set out to achieve has now been turned on its head. I stand to be corrected, but it suggests it was not thought through in the first place. That is the first issue.

The main issue here and what my question really relates to is the following. While I accept the issue about young farmers and qualified farmers, I spoke to a man yesterday evening who is milking 65 cows and who wants to buy 40 acres of land beside his farm. To buy that land he will now have to pay 6% stamp duty. He gets up early in the morning and works very hard, pays his taxes and produces the goods. I listened to the exchanges earlier and I ask the Minister to look at what he is doing for society compared to Apple with its tax deal and the banks, which pay no tax on their profits. It seems totally unfair. I ask the Minister to address that particular point.

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