asked the Minister for Lands if he is aware of the continued uneasiness that exists in the country owing to the acquisition of large tracts of land by foreigners; and if he will indicate what action the Government proposes to take in the national interest to restrict such acquisition.
Ceisteanna—Questions. Oral Answers. - Land Purchases by Foreigners.
63.
I would refer the Deputy to my statement on 7th June on the Lands Estimate and also to the Taoiseach's statement on 26th July on the Estimate for his Department. As the Taoiseach then pointed out, it would be unwise to exaggerate this problem out of due perspective. In the Finance Act this year, further provision was made to tighten the 25 per cent. stamp duty provision, the purpose of which is to indicate official disapproval of the purchase of agricultural land by non-nationals except for the purpose of industry or with the permission of the Land Commission.
For the Deputy's information, statistics of relevant transactions for the period of about 16 months from 1st August, 1961, up to this week—as recorded in the register kept by the Land Commission under the procedure authorised by Sections 33, 34 and 35 of the Finance Act, 1961—show that an aggregate area of 8,458 acres involving 104 transactions, was subject to stamp duty at the rate of 25 per cent.