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IFA Farm Business Chairman Martin Stapleton has said it’s vital that all possible actions are taken to stop AIB and Rabobank from selling further farm loans to unregulated vulture funds.  “Our view is that by selling these loans, banks which approved the loans in the first place are abdicating their responsibilities by throwing their customers to the wolves,” he said.

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With significant additional resources available to the Government for Budget 2019 and talk of economic overheating and ‘rainy day’ funds, the IFA President Joe Healy said Agriculture Minister Michael Creed must deliver for farming and rural areas.

He said “This Government has to show that it is not all about Dublin and that they are in touch with rural Ireland. They can demonstrate this in tomorrow’s Budget with real measures to tackle low farm incomes”.

Joe Healy said in a strong Budget campaign, the IFA has prioritised additional support for sucklers, an increase in ANC payments, the Earned Income Tax Credit to match the PAYE tax credit, Fair Deal and the extension of reliefs to support investment in the sector.

He said “While there can be debates about how best to support the low-income sectors, it is essential that Minister Creed secures substantial additional funding to support farmers”.

IFA President Joe Healy has acknowledged the move by the Government today to remove the upper age limit for family transfers as it reduces the stamp duty liability from 6% to 1%. “This adjustment will allow more families to carry out a lifetime transfer at the rate of 1% rather than the 6% rate.”

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Speaking at the farmers’ information meeting in Mullingar this evening, IFA President Joe Healy said the cattle price cuts of over €100 per head in the last month were inflicting severe financial damage on the low income livestock sector and eroding confidence in the trade.

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IFA President Joe Healy spoke on the landscape for Budget 2018 and beyond at the National Economic Dialogue today. Read his intervention.

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