Concerns have been raised after the Govt increased stamp duty on commercial land transactions from 2% to 6%.

Fianna Fáil Spokesperson on Agriculture Charlie McConalogue has called on Ministers Michael Creed and Paschal Donoghue to engage with farming organisations as many farmers will be hit by new higher tax if they sell or transfer land.

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He said: "The Government needs to bear in mind that farming is a low income industry, with average incomes for 2016 of €24,000 and in the case of cattle farms an average income of €13,000. The impact of this increase on such a low income industry needs to be taken into account. Farmers over the age of 67 who wish to transfer land to another family member will see their stamp duty payments triple as a result of this measure unless the Government reconsiders its approach."

(CD/LM)