Macra na Feirme welcomes move to provide farmers with access to cheaper credit

Budget 2017

Leonie McKiernan

Reporter:

Leonie McKiernan

Macra na Feirme welcomes move to provide farmers with access to cheaper credit

Macra President, Sean Finan.

Macra President, Sean Finan, welcomed the move to provide farmers with access to cheaper credit in today's Budget, saying ''affordable credit is the lifeblood of a young farmers business when starting out and establishing themselves in the industry".

Macra also welcomes the extension of the farm restructuring relief scheme until 2019, which will aid land mobility. This move further extends the existing measure and will aid the mobility of land allowing farmers to consolidate their holdings in a tax efficient way, noted the Macra leader.

"Getting the correct structural environment regarding land mobility for Irish farming is essential for future growth and competitiveness of the industry," he said.

Macra has also welcomed the increase in the Capital Acquisitions tax threshold in Category A from €280,000 to €310,000. While Macra had called for an increase to €350,000, Mr Finan said, "We feel this is a step in the right direction but the Minister Noonan could have gone further".