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Detail of three-fold increase in stamp duty on farmland must be re-examined - Martin Kenny TD

12 October, 2017 - by Martin Kenny TD

Sinn Féin agricultural spokesperson Martin Kenny TD has said that the three-fold increase in stamp duty on agricultural land needs to be re-examined.

Speaking today in the aftermath of Budget 2018 announcements, Deputy Kenny said:

“The Government's budget measures imposing six percent stamp duty on the sale of agricultural land need to be amended in the Finance Bill.

“Sinn Féin voted against this measure in the Dáil, while Fianna Fáil abstained on it and the government voted for it.

“We believe that this three-fold increase is punitive to young farmers wishing to expand their holdings and who fall outside the current exemption criteria. These age limits and criteria need to be re-examined.

“The fact that Fianna Fáil and Fine Gael facilitated this financial resolution to pass on budget night indicates, again, their lack of understanding of the reality of life for small farmers.

“Minister Creed gave a commitment to protect farmland from this increase but has reneged on that.

"Coupled with the paltry increase in tax credits for the self-employed, this is just unacceptable. Sinn Féin’s alternative budget increased the credit to €1,400."

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