IFA ups pressure on family farm succession in pre-budget submission

THE greying age profile of Irish agriculture will deepen if the Government adds any further disincentives to family farm succession, the IFA has warned.

Unveiling its pre-budget submission in Dublin yesterday, the IFA called on the Government to retain existing measures such as Agricultural Relief at its current 90% rate, plus capital gains tax (CGT) retirement relief for farmers. The farm group also wants a reduction in stamp duty rates on farmland and the introduction of CGT relief for farm consolidation. This, says the IFA, would increase land mobility and bring younger people into farming.

IFA farm business chairman James Kane said: “Any changes that threatens land transfer to the next generation of farmers will negatively impact upon agriculture going forward.