§ 30. Mr. MacGregorasked the Minister of Agriculture, Fisheries and Food what action he intends to take to alleviate the problems facing the agriculture industry referred to in the recently published annual report of the Agricultural Mortgage Corporation.
§ Mr. PeartThe Government have recognised that the new taxation proposals might present problems for agriculture. A relief for the agricultural land of working farmers has been given on capital transfer tax and is proposed on capital gains tax. Consultations with the industry on the wealth tax are in progress. An interdepartmental group is also reviewing the effect of capital taxation on agricultural production.