I propose to take Questions Nos. 148, 168, 169 and 172 together.
I would highlight that a comprehensive review of the tax system as it applies to the farming sector was announced in Budget 2014, as a joint initiative between the Department of Finance and the Department of Agriculture, Food and the Marine. The review focused on three key policy objectives for agri-taxation policy, including increasing mobility and productive use of land; assisting succession, and complementing wider agriculture policies and schemes, such as supporting investment to enhance competitiveness, environmental sustainability, alternative farming models such as farm partnerships and responses to increasing income volatility.
Following on from this review, a significant number of measures were introduced, retained or refocused in the last two Finance Acts to assist with succession, and to support young trained farmers. These include but are not limited to targeting of CAT relief for agricultural property to ensure it is used by active farmers; broadening of CGT retirement relief so that, for example, individuals can now lease out their land for up to 25 years prior to disposal and still be eligible for CGT retirement relief; extension of stamp duty relief for non-residential land transfers between certain close relatives; extension of general stock relief, stock relief for certain young trained farmers and stock relief for registered farm partnerships; and extension of the stamp duty exemption for young trained farmers.
In addition, a new "succession transfer partnership" proposal was introduced in Finance Act 2015, which is subject to State Aid approval, in order to provide an incentive to assist long-term planning for the transfer of a farm, mitigate some of the financial concerns that may arise when considering how a farm may support two generations for a period, allow a gradual transfer of control and also facilitate knowledge transfer from one generation to another.
These measures and reliefs are subject to ongoing monitoring by officials from the Department of Agriculture, Food and the Marine and by my officials to assess their impact, and ensure that the policy objectives set for them are being met.
I am considering the proposals put forward from a number of organisations, including the Irish Farmers Association and the Irish Creamery Milk Suppliers Association as part of my deliberations for the Budget. I plan to meet these organisations shortly to discuss their proposals also. The introduction of any further agri-taxation measures in this regard will be a matter for consideration by the Government, and any decisions made will be announced in the context of the Budget and Finance Bill.