Dáil Éireann Debate, Tuesday - 15 October 2019
88. Deputy Eamon Scanlon asked the Minister for Agriculture, Food and the Marine the incentives and schemes in place to encourage young persons to take up farming; and if he will make a statement on the matter. [41381/19]
View answerMy Department currently has a range of measures to support young farmers and generational renewal, both under the Common Agriculture Policy (CAP) and nationally.
Under the CAP, the National Reserve and the Young Farmers Scheme provides financial support to young farmers and new entrants to farming during the crucial early years immediately following the setting up of a farm enterprise.
Between 2015 and 2018, some 8,500 young farmers have received payments under the Young Farmers Scheme each year. Over €78 million has issued to successful applicants under the scheme during this time. Over 9,500 applications have been received under the scheme in 2019.
Also between 2015 and 2018 almost 8,000 successful applicants have benefitted from the National Reserve, with new allocations of payment entitlements valued in excess of €30 million made to successful applicants during this time. A further 780 applications have been received under the scheme in 2019.
Under the TAMS II Young Farmer Capital Investment Scheme, young farmers can avail of the enhanced grant rate of 60% as compared to the standard rate of 40%. Under this Scheme, €74.5m has been paid to over 2,700 young farmers to date.
There are also a number of national taxation measures aimed at young farmers, specifically the ‘100% Stock Relief on Income Tax for Certain Young Trained Farmers’ and the ‘Stamp Duty Exemption on Transfers of Land to Young Trained Farmers’. Both of these measures assist farm succession and transfer. Other measures such as the relief from income tax for long-term leasing relief also benefit young farmers by increasing land mobility.
In addition, in 2017, I launched the 'Succession Farm Partnership Scheme'. This provides for a €25,000 tax credit over five years to further assist with the transfer of farms within a partnership structure, promoting and supporting the earlier intergenerational transfer of family farms. This scheme also encourages important conversations within farm families regarding succession planning.
Teagasc’s recent publication “Teagasc Education Vision – meeting future needs” outlines the importance of education for young farmers and the development of their skills through education and training. This core function of Teagasc is supported and funded by my Department.
Earlier this year, I launched the Future Growth Loan Scheme which is a long-awaited source of finance for young and new entrant farmers, especially the cohort who do not have high levels of security.
Supporting young farmers and generational renewal continues to be a priority for my Department and will form an important part of the CAP post-2020. My Department and I are actively engaging with other Member States and the EU on these issues during the current negotiations on new CAP proposals.
