Sinn Fein to propose Finance Bill amendment on stamp duty increase

Sinn Fein is to put forward a proposal to amend the stamp duty changes announced last week on the back of concerns raised by farmers.

The party is to table an amendment to the Finance Bill where an increase in commercial stamp duty from 2% to 6% is proposed.

This will also affect farmland and while there are certain reliefs in place for farmers transferring land to their son or daughter under the age of 35, many outside of this bracket are concerned about the increase.

Local members of the IFA have been lobbying TDs in Sligo, Leitrim and Donegal on the issue over the past week and they are due to meet again later this afternoon.

The Budget changes announced by Minister paschal Donohue last week cannot go through until the Finance Bill is approved.

Spokesperson on Agriculture for Sinn Fein Martin Kenny told Ocean FM News today that the party will put forward an amendment when this issue comes up for discussion in the Dail: