The age profile of farmers is outlined in the table below. There are clearly fewer young people involved in farming now than there were in the past. However, the data does not provide a profile for the most recent four years. There has been a big increase in demand for farm courses in recent years, due to the economic climate. In addition a number of new provisions were introduced in the most recent budget that should encourage more involvement by young people in farming. These main measures in this regard include
Maintaining the 100% stock relief for young trained farmers;
the retirement relief available on Capital Gains Tax in order to incentivise the earlier transfer of farm assets to the next generation;
Reductions in Stamp duty, which will promote inter-generational transfer, as the cost of lifetime transfer to transferees who do not qualify for the young trained farmer stamp duty relief has reduced considerably. This measure will also give younger, progressive, commercial farmers a greater opportunity to purchase land.
Table 4.1 Number of Farms by Age of Farm Holder, 2000 and 2007
|
2000
|
2007
|
|
Number
|
%
|
Number
|
%
|
|
(’000)
|
|
(’000)
|
|
<35
|
18.4
|
13%
|
8.9
|
7%
|
35-44
|
30.8
|
22%
|
22.7
|
18%
|
45-54
|
36.3
|
26%
|
31.4
|
24%
|
55-64
|
27.8
|
20%
|
33.3
|
26%
|
>65
|
28
|
20%
|
31.9
|
25%
|
Total
|
141.3
|
100%
|
128.2
|
100%
|
Source: CSO, Census of Agriculture 2000 and Farm Structures Survey 2007.