The President of ICMSA, Mr. Jackie Cahill, has called on Minister Noonan to grant an extension to the Farm Consolidation Stamp Duty Relief for a further period of 12 months as part of Finance Bill 2011 now being debated in the Dáil. The current Relief ends next month – 30 June 2011. Mr. Cahill stated that the slow pace of structural change has regularly been identified as a barrier to the development of efficient commercial farming in Ireland . He said that measures around efficient consolidation became even more important in the context of the targets set down by the Government in Food Harvest 2020 and the increased production that will be required on a National level and, most particularly, on dairy farms.
"In order to contribute to efficiency and to the reduction of costs in the farming sector there is a need to increase the rate at which farm holdings are consolidated. ICMSA believes that the introduction of the Farm Consolidation Stamp Duty Relief, notwithstanding its shortcomings, was a very positive measure and has reduced the costs of consolidation considerably for farmers. It's a vital measure for efficient commercial farming", continued the ICMSA President.
"It is absolutely nonsensical to remove the only incentive which currently exists that allows farmers to expand their holding through consolidation at a reduced cost. We hope that Mr. Noonan will look at production demands on the agricultural sector in the coming years and note the onus to grow and develop placed on the sector by his own Government and then try and ensure that farmers can achieve this expansion in the most cost efficient manner possible. That surely means an extension to the Farm Consolidation Stamp Duty Relief for another year as and from 30 June", observed the ICMSA President.
Ends. 27 May 2011.
Jackie Cahill, 087-2820663
Cathal MacCarthy, 087-6168758
ICMSA Press Office