Relief cap jeopardy warning
The introduction of the €70,000 lifetime cap on young farmer stamp duty and stock relief has the potential to jeopardise young farmers’ plans, according to Macra president James Healy. Speaking at a Brexit and fodder event in Mallow, Healy said that on budget day, Macra were very happy to see the continuation of the young farmer stamp duty relief and stock relief for another three years. However, Healy said he “had a mini-heart attack” when he noticed the introduction of the cap in the Finance Bill.
“I think it put an awful of plans that young farmers had made in jeopardy, this has the capacity to put a lot of young farmers in jeopardy with their lenders as well” he said. Also at the Brexit and fodder event in Mallow, Healy addressed negotiations for the forthcoming CAP 2020. He said the definition of a genuine young farmer needs to be discussed, and said Macra will seek to ensure the young farmer who is taking the risk, calving the cow, or milking, will benefit from CAP money.
The Macra president urged young farmers to attend upcoming CAP reform consultation meetings, in order to help Macra design policies that young farmers will benefit from.