The devil will be in the detail

available, especially in areas that are marginal for mainstream farming but ideal for growing trees.

If existing farm subsidies in the livestock and tillage sectors were slashed, then forestry would become the clear alternative.

Alternative crop

Given the fact that Ireland grows trees better and faster than almost anywhere else in Europe, farm forestry, which is simply the production of an alternative crop, would be an obvious choice.

The finer points of what is proposed are as yet unclear but it appears that if you own either bare land or semi-mature woodland, then the backers of this scheme will be interested in purchasing or leasing it.

We don’t yet know but can only assume that the options will include harvesting rights as an additional choice.

On reading the information at hand, it struck me that much of what is contained in the proposals may be similar to, perhaps, leasing land for windfarm or solar electricity generation, with the benefits and potential pitfalls that this brings.

With that in mind, any forest owner looking to sell or lease would need to ensure they take forestry, legal and taxation guidance, as well as taking account of family considerations and farm structure. Leasing might also prevent the granting of a site to a family member.

Landowners who lease property for afforestation or harvesting might no longer be in occupation of the property but, as the owner, they could still have liabilities for replanting.

Due to the absence of subsidies and the long-term nature of timber production, such land is usually valued at zero for accountancy purposes. This is because of the cost and relatively long wait for the next pay day.

The promoters of this scheme have deep pockets and will no doubt have heavyweight legal support, whereas most farmers will be relying on a local solicitor.

Getting advice on complex issues such as this is always costly and one should never sign anything without having first received the protection of an informed legal opinion.

As always, the devil is in the detail.