IFA Farm Business Chairman Martin Stapleton said the provision in the Finance Bill to limit tax reliefs for young farmers sends a very bad signal to the next generation of farmers.
Martin Stapleton said the underlying theme of every pre-Budget submission prepared by IFA is to encourage new entrants and the orderly transition of farms between generations.
“Unfortunately, the drafters of the Finance Bill don’t seem to grasp the importance of introducing new blood into the sector. We will be making a robust case to Minister Paschal Donohoe & his officials over the next fortnight to revisit this proposal.”
The Farm Business Chairman said the idea of putting impediments in the way of young farmers is contrary to a range of policy measures aimed at lowering the age profile of farming.