Speaking in the Dail today, the Minister for Finance Michael Noonan said that prudent and responsible has got us to this point and that is how we will continue.

He also paid tribute to the agri-food sector, saying it is responsible for 170,000 jobs and that it is the biggest indigenous industry in the country.

Some of the highlights for famers announced today include:

Capital Gains Tax will be extended to conacre to encourage long-lerm leasing.
The Government is increasing the range of income averaging from three to five years.
Farmers flat rate VAT for non registered farmers will increases from 5% to 5.2%.
The current 40 year of age threshold for leasing relief will be removed.
The bloodstock industry will receive an additional €6m for horse and dog racing.

We will follow with details from the Minister for Agriculture, Food and the Marine Simon Coveney.