Mr. Thomas Duffy:

There are two elements. One is that it is absolutely essential to retain stamp duty relief. That is being considered by the Department of Finance. That support is vital and the opening statement gives the exact details of how much has been taken up. However, we have suggested some minor changes to it to encourage what we have called a steeped approach, addressing a set of separate taxation measures which would encourage and support young farmers entering into the system from the beginning. We feel the extension needs to include succession partnerships - there is currently a cut-off there - and extension up to the age of 40 years, but only where there are additional measures such as taxation relief on the leasing of land to young farmers up to the age of 30 years and limited to five years. Our logic on this is very clear. We are seeing a particular issue in the handover of land. It is a major lifestyle and financial change for many farmers. Many farmers are asking, essentially, how they can test the water here. What we have proposed is a measure whereby a farmer might encourage a young person to get on board in a limited way, which would not affect the person's application for both stamp duty relief and the young farmer top-up payment in the future.

In terms of the limit, there are concerns about the limits to state aids. We engaged with the Department of Finance when this was announced as to whether it would impact on the total lifetime aid which a young farmer could draw down. There are a small number of farmers who might be affected, who would be inheriting extremely large holdings and also drawing down 100% of grant aid under schemes such as the targeted agricultural modernisation schemes, TAMS, and so forth. However, we are satisfied at present that, broadly, the stamp duty supports and the other taxation supports should be in line for the European Commission not to raise any objections to them.