I call on the Minister for Finance to reintroduce stamp duty relief for young, trained farmers who have qualified for EC green certificates in farm training. This successful scheme was introduced in 1982 and remained in operation until 1987. However, the annual rate of land transfers has halved in the last five years and is now at a level comparable with the sixties. It is clear that the initiatives introduced during the period 1982-87 encouraged earlier land transfers and was of tremendous benefit to young farmers in taking over the running of the farm units from their aged parents. It also promoted the agricultural industry.
The colossal and exorbitant cost of stamp duty has prevented many young, trained farmers from staying in the agricultural profession. Indeed, young farmers today are leaving the land and competing with other unemployed young people in the already depressed job market, thereby increasing the already high unemployment figures. The high level of emigration in my constituency — Cork South-West — can also be attributed to a lack of a coherent land policy. Therefore, if the current rate of new entrants to farming continues to decline, in 20 years' times there will be only half the number of farmers there are today. This will have the effect of seriously swelling the already huge unemployment queues that exist throughout the country. I urge the Minister to act before it is too late and to ensure that the stamp duty relief be again introduced in the forthcoming budget and, thereby, giving the young farmers of today an opportunity to take over the running of their farms from their respective parents. In many cases young farmers of today must wait until they themselves are middle-aged to become farmer owners. The abolition of the stamp duty relief in 1987 made it impossible for farmers to hand over their property to their sons and daughters owing to the exorbitant rate of stamp duty that would be imposed on the transfer of the property.
If a new generation of dynamic well trained young farmers are to be brought into the agricultural industry, this situation must now be changed immediately and I urge the Minister to heed my advice and grant this request in the forthcoming budget.