Dáil Éireann Debate, Thursday - 25 April 2024
60. Deputy Rose Conway-Walsh asked the Minister for Agriculture, Food and the Marine the number of applicants to the succession planning advice grant; the steps he is taking to support succession; and if he will make a statement on the matter. [18423/24]
View answerAssisting the next generation to take over the farm, when the time is right to do so, is one of my priorities to ensure the ongoing sustainability of the family farm. There are strong supports in place to support succession and the intergenerational transfer of family farms, with support through our CAP Strategic Plan (CSP) and a range of national taxation measures.
The new Common Agricultural Policy (CAP) cites generational renewal as one of its nine key objectives. Ireland’s CSP 2023-2027 provides substantial resources to achieving generational renewal and measures include:
• The Complementary Income Support for Young Farmers (CIS-YF), which has a significantly increased financial allocation of 3% of the direct payments ceiling. Payments of some €31.6 million have issued to date.
• Under the National Reserve Scheme, young farmer and new farmer are priority categories. Payments of some €4.3m have issued under this scheme.
• A higher grant rate of 60% for qualified young farmers under the TAMS capital investment measure is available.
• A Collaborative Farming Grant Scheme provides financial support to encourage farmers to form partnerships with young, trained farmers.
In addition, last year I announced the Succession Planning Advice Grant, an innovative measure to encourage and support farmers aged 60 years and over to seek succession planning advice, assisting them to begin to plan for their future and the future of their farms. Under the first tranche, 81 applications were received and payments of €61,354 issued to 51 eligible applicants. Tranche 2 is now open. While relatively modest in its funding, I believe this measure has the potential to encourage and initiate important conversations within families.
Nationally, there are strong taxation measures to facilitate succession and assist land mobility. For succession, Agricultural Relief is the key measure, which along with 100% Stamp Duty Relief and Consanguinity Stamp Duty Relief, provided support of some €274 million in 2022. 100% Stock Relief for Young Trained Farmers was worth another €1.7 million. In addition, the Succession Farm Partnership Scheme provides for a €25,000 tax credit over five years to further assist the transfer of land within a partnership structure. Long-term leasing income tax relief supports access to land for young farmers and provides a route to retirement for older farmers.
On access to finance, the new €500 million Growth and Sustainability Loan Scheme for long-term investment, up to 10 years, launched in September 2023. To date approximately 175 loans to the value of €16.9m have been sanctioned. Loans up to €500,000 are unsecured, making it a viable source of finance for young and new entrant farmers, especially the cohort who do not have high levels of security.
The broad range of Teagasc agricultural education activities continues to equip our young farmers with the necessary knowledge to build successful careers.
Food Vision 2030, our stakeholder-led strategy for the agri-food sector, highlights the challenge of generational renewal and proposes several actions, including maintaining the current strong level of current support, the promotion of succession planning & land mobility, and increased education and promotion of the diversity of careers in the agri-food sector.
I will continue to prioritise succession to ensure the ongoing viability of the family farm in Ireland.
