Macra na Feirme, the organisation representing young farmers, has called for the introduction of a Capital Allowance System for young farmers.

In its Pre-Budget Submission, the young farmer group has called for the Government to install a system similar to the one currently operating in the UK in its October Budget.

This system will allow young farmers to write off larger amounts of capital expenditure in the first year of investment against income tax.

According to Macra, the future of farming relies on young farmers who need necessary resources and supports to develop their farm businesses.

And to ensure that these resources are provided, the organisation has called for increased supports for inter-generational renewal, access to credit, land mobility, education and measures to tackle income volatility in its Pre-Budget Submission.

Macra na Feirme President, Sean Finan said Macra’s Pre Budget Submission focuses on strengthening the future for young farmers and rural youth.

“Our proposals set out the building block that need to be put in place in the budget to create an environment within which young farmers can establish themselves in the industry and have a successful career.

“As a representative body for rural young people we are calling for an increase in our youth sector funding as well as highlight other rural youth issues,” he said.