Only 71 applicants to succession scheme 'disappointing, though not surprising'
The Succession Planning Advice Grant is a scheme specifically aimed at encouraging best practice in intergenerational land transfer in order to address, among other things, significant generational imbalances in farming.
71 applications were made in the first tranche of the Succession Planning Advice Grant.
Payments will be made to qualifying applicants in quarter one of this year.
The Succession Planning Advice Grant is a scheme specifically aimed at encouraging best practice in intergenerational land transfer in order to address, among other things, significant generational imbalances in farming.
The grant is to encourage and support farmers aged 60 years and above to seek succession planning advice by contributing up to 50% of vouched legal, accounting and advisory costs, subject to a maximum payment of €1,500.
Tranche one opened for applications on September 19 and closed on December 31, 2023.
No date has been announced as of yet for the opening of the next tranche.
Macra president Elaine Houlihan has said that Macra has for "its last 80 years been concerned with the transitioning of land from one generation to the next, the figures as outlined show that we are at a crisis point".
"71 applicants is a disappointing, though not a surprising figure," Ms Houlihan said.
"Farmers do not know what way to turn when it comes to generational land transfer. There has been some outstanding work completed by the Land Mobility Service - we need more.”
Ms Houlihan said she has written to Agriculture Minister Charlie McConalogue "requesting a meeting so that we could engage on the setting up of a generational just transitioning fund for farming".
"We see governmental intent towards generational renewal; we now need to engage with government to ensure that the next initiative will have considerably more take-up than the succession planning advice grant," Ms Houlihan said.
In a survey carried out in 2023, it was found that one third of farmers surveyed would immediately avail of a succession scheme, one third would consider it, and one third had no interest now, Macra said.
"One-third of farmers want a succession scheme today, that equates to 44,500 farmers, another 44,500 would consider it, creating a cohort of 89,000 farmers," Ms Houlihan added.
"What is needed is a generational just transitioning fund for farming."
Ifac's recent report found that only 66% of farmers are sure that they will still be farming in five years’ time.
The research also found that 64% of farmers do not have a successor in place, and 33% of farmers do not have a pension in place .
