Brian Cowen (Laois-Offaly, Fianna Fail)

In line with the changes announced in my previous two budgets and arising from the conclusion of the latest social partnership agreement, Towards 2016, I am renewing and extending a series of farm tax reliefs in the areas of income tax and capital taxes, at a cost of €14 million in a full year. The two farm stock reliefs are being renewed. The general stock relief allows 25% of any increase in stock values in a year to be allowed as a trading expense. For young trained farmers, the relief is set at 100%. The stamp duty relief for farm consolidation, where two farmers exchange land, will now apply where only one farmer meets the consolidation criteria.

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