Michael Collins
Question:230. Deputy Michael Collins asked the Minister for Agriculture, Food and the Marine his plans to reintroduce the farmers retirement scheme. [13395/18]
View answerThursday, 22 March 2018
Questions (230)
Written answers
The Early Retirement Scheme was suspended in 2008. It was reopened briefly in September 2009, with limited additional funding, to accommodate farmers who had applications completed or close to completion at the time of suspension. I can confirm that as there is no funding available for a new Early Retirement Scheme at this time, I have no plans to re-open this scheme or introduce another similar scheme.
In recent years the priority of my Department has shifted to the encouragement of generational change for farmers. There are a range of supports in place including specific agri-taxation measures to incentivise this generational change. These agri-taxation measures specifically aimed at young farmers include 100% stock relief on income tax for certain young trained farmers and stamp duty exemption on transfers of land to young trained farmers.
Under the 2014 - 2020 Rural Development Programme there is also enhanced capital investment scheme for young trained farmers. This new Scheme provides grant aid at a rate of 60% of the cost of the investment, compared to the standard grant rate of 40%, and I believe it is an important support and encouragement to young farmers starting in agriculture for the first time.