Michael Ring
Question:223 Mr. Ring asked the Minister for Agriculture, Food and Rural Development if there is any scheme in place to encourage or grant assist a young person to enter into farming or to help a person to purchase a farm. [3436/00]
Written Answers. - Farm Purchase Scheme.
There are a number of measures and incentives in place aimed at encouraging young people to set up in farming.
The national scheme of installation aid, introduced in December 1998, provides a grant of £5,600 to assist young qualified farmers under 35 years of age first setting up in farming. Under the National Development Plan, 2000-2006, a new scheme is provided for and a higher rate of grant will apply.
In addition, a comprehensive range of tax incentives apply, relating to stock relief, stamp duty relief, capital acquisitions tax, capital gains tax and probate tax, to facilitate minimisation of ownership transfer costs.
Priority will continue to be given to young farmers in the allocation of suckler and ewe pre mium quota rights from the national reserve. Special provision has been made for young farmers through the allocation of five million gallons from the first 20.5 million gallons of additional milk quota secured from April 2000 under the EU Agenda 2000 agreement. The National Development Plan, 2000-2006, has also made provision for a development programme for young farmers to provide for additional aid in respect of on-farm investment.
I recently established a task force to review agricultural education and training, having regard to the changing economic and social environment.
The early retirement scheme has been extremely successful since its introduction in 1994. The scheme will continue in the coming years and some £565 million has been provided for the measure in the period 2000-06. The scheme has a key effect in facilitating the take over of farms by young farmers.