Michael Creed (Cork North West, Fine Gael)

The Minister's decision to withdraw installation aid and the early retirement scheme is disgraceful. He accepts that 8% of farm holders under the age of 35 is an acceptable EU norm at a time when large global challenges face farming. Nearly 50% of the farm-owning population are of an age to qualify for the early retirement scheme.

I will give the Minister a word of warning. The Minister is going to Tullamore this evening to talk about the sheep industry. While I accept the sheep industry is in crisis, if he were to attempt to create a nest egg to fund another pet scheme by robbing Peter to pay Paul, farmers will not stand for it.

Will the Minister accept that in the absence of installation aid and the early retirement scheme, the availability of the stamp duty relief on the transfer of family farms will be irrelevant? The number of farmers availing of the stamp duty exemption will come to a standstill. Without installation aid and the early retirement scheme, the stamp duty exemption is useless. These schemes comprised a three-pronged attack to address the age profile issue in farming. In one fell swoop the removal of these two schemes will undermine the effort to get younger people into agriculture.

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