Noonan: Tax incentives review ‘not designed to take anything away’

Farmers can expect continued support from the exchequer from a review of existing agri-food tax incentives, said Finance Minister Michael Noonan.

At his recent meeting with the IFA’s national executive, the minister heard farmers’ concerns in relation to the estimated €2bn they plan to spend expanding their farm enterprises. IFA president Eddie Downey told the minister that this investment would drive growth in employment and export earnings.

“This investment is also going to put huge pressure on farm cashflows and [the] IFA will be pushing for increased stock relief measures and accelerated capital allowances to allow farmers expand in a viable way,” said Mr Downey.