Macra slams idea of Stock Relief cut
Gowing says tax measure must be renewed if the Food Harvest 2020 targets are to be realised
Published 07/12/2010 | 05:00
Macra na Feirme has slammed suggestions from Department of Finance officials that Stock Relief for young trained farmers might not be renewed in today's Budget.
It is feared that the key measure may be one of the cuts targeted today by Minister for Finance, Brian Lenihan.
Macra national president Michael Gowing said the 100pc Young Trained Farmer Stock Relief must be renewed in the Budget as it is a very important low-cost incentive that facilitates young farmers to build up livestock and grow their business.
Mr Gowing slammed suggestions emanating from the Department of Finance that Stock Relief could not be justified. "These suggestions don't stand up, the relief is fully justified if Ireland is going to meet the targets of the Food Harvest 2020 report," Mr Gowing said.
"This relief must be renewed in December's budget if the Government is serious about agriculture contributing to economic recovery," he added.
"The 100pc stock relief for young trained farmers and the 25pc relief for all farmers costs a mere €2m annually, but it is a stimulus to get young farmers involved in agriculture and to expand their enterprises in the first four years. This is very much in line with the Government's Harvest 2020 report which is calling for an expansion in farming."
Mr Gowing said it was not consistent for the Government to talk of cutting Stock Relief when growing exports was a key element in their plans for economic recovery.