Mr. Derrie Dillon:

Senator Lombard asked a specific question about old young farmers. When we were before an Oireachtas committee in June 2015, we outlined specific proposals on a solution to the issue of old young farmers. Mr. Duffy mentioned the national reserve in the next CAP. That is the primary mechanism for delivering for old young farmers. There are two mandatory categories and the potential to introduce an additional category. However, this is all contingent on us getting a minimum of 4% delivered to young farmers in the next CAP. If we do not have that level of funding available, the national reserve will, as Mr. Duffy outlined, have to provide for young farmers and new entrants, who comprise the first two categories, before it can provide for other categories. We had other proposals in the past, but we believe that the best mechanism for delivering for old young farmers is the national reserve in the next CAP.

I wish to make a comment on a point that was made about our proposal in respect of stamp duty relief. Mr. Duffy outlined the aspects of the proposal. We propose that the 35-year age limit in respect of stamp duty on general transfers of farms remain but that it increase to 40 years where succession partnerships and the purchase of land by young farmers are concerned. We would like to see the 35-year age limit for general transfers remain as is because most transfers happen where 34-year-olds are approaching their 35th birthdays and we fear that it would only move five years on to when they were approaching their 40th birthdays were it to change. There is a cliff edge at 40 years of age when the rate of stamp duty increases to 7.5%. Perhaps there should be tiering after 40 years of age so that people who just miss that date do not incur the full 7.5%.