Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I acknowledge the Minister of State's bona fides on the issue and his in-depth understanding of it as a farmer. I also acknowledge the progress that has been made on income averaging and the optional step-out year, which has made a difference. The review he is pledging now should have taken place by now as 2016 was a particularly bad year. Volatility affects the farming community far more than any other. Many businesses come to us and tell us they have ups and downs, as they do, but the Minister quoted the price of a litre of milk at its low point at 19 cent, with its high point having been 41 cent.

It is about managing cash flow. I understand the reluctance on the part of the system, including Revenue which understandably takes a pretty conventional view of taxation obligations, but the reality for farmers is serious. I include incorporated farmers and we made particular reference to corporation tax because a significant number of farms are now incorporated.

I welcome the pledged review. Can the Minister give any more information as to when he expects it to be completed? Can he give a commitment that it will be published in advance of the next budget? He said it will have a particular focus on income stabilisation and measures to address income volatility. We will hold him to that commitment and the report should set out options as to how, in the next Finance Bill, this issue can be addressed.

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