Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

As the Deputy will remember, in budget 2014 there was a full review of the agricultural reliefs for the sector. Subsequently, in budgets 2015 and 2016, some of these were presented. There will be a review of all reliefs in the agriculture tax review. There will be an update and particular reference to income stabilisation. As I said in a slightly glib way, I understand the pressures on farmers in respect of income volatility. To put it into context, milk prices for November 2019 will be €0.42 per litre. Some 16 months ago they were between €0.19 and €0.21 per litre. The volatility of milk prices internationally on the world market means the price for this product can be halved in a period of 12 to 14 months. There are very few industries in which that is the case. While the situation has improved a lot in the past 15 to 18 months, volatility is a serious factor in agriculture at the moment. We are doing a full review next year. Income stabilisation will form a substantial part of that review.