Mr. Kieran O'Dowd:

Collaborative arrangements, long-term leasing and shared farming all need to be encouraged. While we would differ from our colleagues in the ICSA in so far as while we need to encourage long-term leases by incentivising and getting them publicised further in order that more of those arrangements are taken up, people who want to continue farming and have some link with the land also need to be encouraged and supported. The key statistic is that 48% of farmers over the age of 55 years do not have an identified successor. That means they will not continue farming indefinitely. They need to be given some option in respect of what they will do with the land. If they were to die in the morning and somebody takes over the land, the land must be farmed effectively and productively.

Deputy Pringle commented on the benefit and the stock relief. In the dairy sector in particular, young farmers in the early days will not be able to avail of the stock relief to its full extent. However, if they are expanding rapidly and if they have a good income coming from the good milk price and they want to reinvest into the business, we believe they could be caught with a significant tax bill at the growing stage. These young farmers are sole traders. They will not be seeking to incorporate the farm and will be paying tax at the higher rate. We believe they should be helped by being given the flexibility to grow and develop in the initial period. This should not apply to the dairy industry only.