Pat Buckley
Question:760. Deputy Pat Buckley asked the Minister for Agriculture, Food and the Marine the measures in Budget 2023 to support young farmers. [53140/22]
View answerTuesday, 25 October 2022
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The challenge of generational renewal is widely recognised at national and EU level and is a priority for Government. I am a strong supporter of generational renewal and assisting the next generation take over the farm when the time is right to do so.
Budget 2023 provides for a €2.14 billion allocation for my Department, the highest ever level of funding allocated to the Department of Agriculture, Food & the Marine, representing a 13% increase on last year. In addition to supporting farm families, including young farmers, dealing with the immediate and ongoing fallout of the illegal invasion of Ukraine, Budget 2023 also lays the groundwork for strategic supports for the sector through the new €10 billion CAP Strategic Plan (CSP).
Targeted supports for young farmers under the CSP include:
1. Complementary Income Support for Young Farmers (CISYF), dedicating some 3% (or approximately €35m per year) of the direct payments ceiling to help young farmers establish their farming businesses.
2. The National Reserve will be utilised to fund young farmers and new entrants to farming.
3. The On-farm Capital Investment Scheme under the CSP will apply a higher grant rate of 60% for qualified young farmers, as part of a total €440m available for on-farm investments over the period 2021-2027.
4. The CSP will also build on the current Collaborative Farming Grant by providing a parallel support for older farmers towards the professional costs, such as legal, taxation and advisory, incurred for the establishment of a Registered Farm Partnership, and advice in relation to succession and/or retirement. The financial allocation for this intervention is €2m for the CAP period.
National taxation measures on succession and land mobility, together with the support available under the CAP, represent a substantial commitment to young farmers. I was therefore pleased to secure the Minister for Finance's agreement in Budget 2023 to renew 100% Stamp Duty Relief for Young-Trained Farmers and Stock Relief for Young-Trained Farmers and Partnerships.