Ibec questions the legality of Government bill to tax rezoned land

Housing Minister Darragh O'Brien said the legislation had the aim of 'limiting the speculation that affects land prices, and by extension, the cost of housing.' File picture: PA

A Government bill aimed at clamping down on land speculation through a new 30% tax “will discourage farmers from willingly selling land for development” and “increase the cost of new homes”, it has been claimed.

Both the Irish Farmers Association and Ibec’s Property Industry Ireland (PII) have written to the Oireachtas housing committee to express their concerns over the proposed measures, with the former saying it has requested a senior counsel to examine the bill and the latter arguing that there is “serious doubt about the legality” of the legislation.