New Government plan could save farm families thousands in nursing home fees
Farm families and those that own their own businesses are set to save thousands of euro in nursing home fees under a Budget deal that will protect their farm and business assets for the first time.
The Irish Independent has revealed that the Government plans to make changes to the fair deal scheme which will dramatically reduce the financial burden facing elderly people and their loved ones.
The Government's plan to overhaul Fair Deal will see the introduction of a three-year cap on contributions from farms and businesses.
This will dramatically reduce the financial burden facing elderly people and their loved ones.
Under the current scheme, families pay a 7.5pc annual contribution on their principal residence for a maximum of three years. However, the three-year cap does not apply to farmland or business premises - meaning the financial burden facing farmers and business owners is much greater.
Farming lobby groups say such rules can place the very viability of the farm for future generations at risk.
But the Irish Independent can reveal that Older People Minister Jim Daly has decided to introduce the same three-year cap on assets, in a bid to slash the bills facing thousands of families.
The plan, which now requires approval from Attorney General Seamus Woulfe, was discussed last night during a meeting between Mr Daly and the Irish Farmers' Association (IFA).