Changes to Fair Deal a 'relief' to farm families under 'stress'
The country's largest farming organisation has welcome proposed changes to the Fair Deal scheme that will dramatically reduce the financial burden faced by elderly farmers and their loved ones.
The Irish Independent revealed yesterday the plan will see the introduction of a three-year cap on contributions from farms and businesses.
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.
It means 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 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.