In a comment on the Finance Bill, IFA President John Bryan said that the Bill contained some positive measures as regards the calculation of the Income Levy and the provision of relief from the 80% Windfall Tax on the sale of single sites.

However, the Government has maintained the unfair level of Carbon Tax on Farm Diesel announced in the Budget.

Mr Bryan said - "Relief from the Income Levy will be granted in relation to Capital Allowances claimed on expenditure necessary to comply with the EU Nitrates Directive.”

In addition, Mr Bryan noted, the Minister had responded to IFA’s request for an exemption from the 80% Windfall Tax in the case of small gains from sales of rezoned land. However, in giving an exemption only for the sale of one-off sites below one acre and €250,000 in value, he has not gone far enough.

He continued - “I am very disappointed that the rate of the Carbon Tax on Farm Diesel proposed in the Budget is unchanged. This will impose a further unnecessary cost on farmers and reduce the competitiveness of the sector.”