Farming organisation Macra welcomed the extension of various tax reliefs for young farmers, saying the measures would “assist in addressing generational renewal and the challenges of food production and climate change”.

National president John Keane said: “The consistency and continuity of young farmer tax reliefs is essential to support generational renewal. Macra had lobbied for the extension of these reliefs and drew attention to the EU’s review of state aid supports under the Agricultural Block Exemption Regulation which is due to expire on December 31 next.

‘It is now critical that the government engages proactively with the EU on the ABE regulation, with a view to getting an increase in the lifetime threshold for young farmers from €70,000 to €140,000 under State Aid rules.
 
“The timing of the review of the regulation remains concerning, as it coincides with the expiry date of the current Irish young farmer tax reliefs and therefore must not impact on the orderly extension of both young farmer stamp, stock and consolidation reliefs.”