08 Oct 2014
BUDGET MUST DELIVER FARM SCHEME FUNDING AND SUPPORTIVE TAXATION SYSTEM – DOWNEYEconomics
IFA President Eddie Downey has said that next Tuesday’s Budget must deliver funding for farm schemes and taxation measures to support the growth of the agriculture sector.
Mr Downey, who will again lead an IFA delegation tomorrow to meet Minister for Agriculture Simon Coveney on budget issues, said, “It is critical that funding in this budget is targeted at sectors that can provide a real return to the economy. Funding for farm schemes will support farm incomes, underpin output and drive on-farm investment. Ireland needs a balanced economic recovery, and funding for agriculture will provide a direct stimulus to the rural economy”.
IFA Rural Development Chairman, Flor McCarthy said, “There are 17,000 farmers leaving REPS this year, with thousands more having exited in 2013. The budget allocation for agriculture on Tuesday must provide sufficient funding for the GLAS scheme to provide for the opening of applications for the scheme later this year with a full payment for 30,000 farmers in 2015”.
He continued, “Capital expenditure is critically important for the continued development of agriculture, and provides a measurable boost to economic activity. There is a requirement for an ambitious programme of on-farm investment across all sectors through the TAMS, with additional capital funding required for the horticulture, forestry and aquaculture sectors, all of which are contributing to increased employment”.
IFA Chairman Tom Doyle said, “the agri-taxation review, which will be published on Budget day, must provide a roadmap for addressing the structural challenges in farming and achieving the growth potential of the sector. Taxation measures to address income volatility, encourage lifetime transfer, promote on-farm investment, and increase land mobility must be a central element of the Budget”.