Martin Kenny (Sligo-Leitrim, Sinn Fein)
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518. To ask the Minister for Agriculture, Food and the Marine the number of succession farm partnerships that have been announced since the scheme was established; and if he will make a statement on the matter. [7493/18]

Michael Creed (Cork North West, Fine Gael)
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Under the Succession Farm Partnership scheme, partnerships on the Department’s register may apply to join the succession farm partnership register.  To date, my Department has received and processed 28 applications from registered farm partnerships, for the register.

The purpose of this scheme is to encourage the generational change critical for the future of farming. By facilitating collaborative working in a way that assures the long term financial security of both the farmer and the successor, this scheme will increase operational efficiency on farm by supporting best practice in intergenerational transfer of the holding

Partnerships on this register can benefit from a tax incentive of € 5,000 for up to five years, during the Succession Agreement term, until the identified successor(s) reaches the age of 40.

The scheme is designed to encourage the successor to become invested in the enterprise as early as possible to be fully ready to take over when the time is right.

It is strongly advised that anybody considering entering into a succession farm partnership take independent legal and financial advice and allow adequate time to do this.

The Succession Farm Partnership scheme is part of the Government’s commitment to Rural Ireland.