Dáil Éireann Debate, Tuesday - 30 November 2021
770. Deputy Brendan Griffin asked the Minister for Agriculture, Food and the Marine if there are plans to introduce a new early retirement scheme for farmers; and if he will make a statement on the matter. [58974/21]
Amharc ar fhreagraThe challenge of generational renewal is widely recognised at national and EU level, with the new Common Agricultural Policy (CAP) citing it as one of its nine key objectives.
I believe that supporting young farmers and facilitating generational renewal is critical to ensure a bright future for the agri-food sector. Obviously this also concerns older farmers and while there are a number of supports currently available under the CAP specifically for young farmers, these are complemented by a suite of national taxation measures that assist both younger and older farmers.
In recent years, the priority of my Department has shifted to the encouragement of generational change for farmers by assisting the development of our young farmers. There are a range of supports in place including specific agri-taxation measures to incentivise this generational change. The 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 current Rural Development Programme, there is also an enhanced capital investment Scheme for young trained farmers under the Targeted Agricultural Modernisation Schemes. This Scheme provides them with 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.
Generational renewal continues to be a priority of mine and it will form an important part of the CAP post-2020.
