There are no plans currently to reintroduce early retirement for older farmers or installation aid for younger farmers. However, the 2014-2020 Rural Development Programme, which was submitted to the EU Commission for approval in July 2014, includes a commitment to the introduction of an enhanced capital investment scheme for young farmers. The new scheme will offer a specific grant rate of 60% compared to the standard grant rate of 40% which will be generally available under other on-farm investment schemes. The specific areas of investment will include animal housing, slurry storage, dairy equipment, specialised slurry spreading equipment, animal welfare and farm safety, and specialised pig and poultry investments, as well as capital investments for organic farmers. In addition, young farmers will be able to avail of grant-aid for construction of new dairy buildings.
I am very hopeful that these items will receive EU Commission approval and their inclusion in the new scheme can then be confirmed. While there are some limitations set out in the governing EU regulations as to the categories of farmers which may be regarded as eligible for the scheme, the intention is to ensure that as many young farmers as possible can avail of the enhanced grants.
I am confident that the new scheme, when introduced, will provide a genuine platform for a significant level of investment on holdings recently taken over by young farmers in Ireland, as well as encouraging the transfer of more holdings.
