Vol. 473 No. 4
568 Cecilia Keaveney asked the Minister for Agriculture, Food and Forestry the incentives, if any, that are currently available to encourage farm development and investment; and if he will make a statement on the matter. [1670/97]
Substantial resources are being made available under the Operational Programme for Agriculture, Rural Development and Forestry (OPARDF) 1994-99 to assist farmers involved in investment in traditional agriculture enterprises and in farm diversification measures. These measures include the installation of pollution control facilities, farm improvement facilities including horticulture, and the upgrading of dairy hygiene facilities. They complement and continue schemes commenced under the old farm improvement programme and the scheme for the control of farm pollution 1989-93. There are some 25,000 applicants participating in these schemes with approvals issued to about 20,000. It is expected that the outstanding applicants will be approved for works during the current year.
Furthermore, there are currently very generous capital allowances for farmers opting to invest on farm. The write-off period for investment in farm buildings and structures was reduced from ten to seven years in the 1994 Finance Act. In recognition of the importance of maintaining an environmentally sound farming sector the Government agreed in the context of the Partnership 2000 to introduce improved allowances for investment by farmers in necessary pollution control measures.
In order to improve the competitiveness of the agriculture sector, productive investment is required to upgrade and replace facilities necessary to reduce production costs and enhance on-farm efficiency. The continued availability of general stock relief at the 25 per cent rate and the continuation of the relief for young trained farmers, agreed in the context of Partnership 2000, will release scarce resources to productive on-farm investment.
