In the wake of the announcement of Budget 2022 by Minister for Finance Paschal Donohoe and Minister for Public Expenditure Michael McGrath, Macra na Feirme has issued a disappointed response on behalf of young farmers.
Macra claims that the budget “has not shown any commitment to young farmers, addressing generational renewal or the reality that young farmers must meet dual challenges of food production and climate change”.
Speaking very shortly after the end of the budget announcement, Macra national president John Keane said: “This budget does not support young farmers. We do not see progress on the major challenges facing young people in rural Ireland.
“What we see are words, not deeds. The minister has announced tax credits for the digital gaming industry worth up to €25 million, but cannot make commitments to young farmers.
“Minister Donohoe has effectively told the next generation considering farming careers to take-up computer gaming instead,” Keane said.
He added that: “We owe it to the farming community to provide for the sector so there is a sector for our children to work in, enjoy and experience.”
According to the Macra president, the government has – despite commitments to generational renewal – “shown no desire to move beyond the status quo”.
“The digital gaming budget sector is to get a bump from tax relief of 32% up to a spend of €25 million. The finance minister needs to remember that everyone needs a farmer, the backbone of a wider agri-food industry, at least three times a day for food production,” Keane concluded.
The one positive for young farmers in this budget is the rollover of the relief under Stamp Duty for young trained farmers until December 31, 2022.
Stamp Duty relief for young trained farmers provides for an exemption from Stamp Duty on either the transfer or purchase of land where the recipient is a trained farmer under the age of 35.
Meanwhile, the stock relief – which takes the form of a tax deduction in respect of increases in the value of farm trading stock – will also continue for young farmers.