An ICMSA delegation headed up by the association’s President, Jackie Cahill, met Minister for Finance, Michael Noonan, last Thursday in Limerick. Detailed discussions were held on the ICMSA pre-Budget submission and the farmer delegation set out proposals on inter-generational family farm transfers.
“Given all the changes in Capital Taxes there was a danger that the transfer of a typical family farm would incur a tax liability that would effectively amount to a restoration of death duties. I’m pleased that the Minister full appreciated this point and also by the fact that he has an acute appreciation of the contribution being made by the agri-food sector to the economy and was most insistent that this contribution must be built upon. It was refreshing and reassuring to hear that the Minister and the Government are setting about the restoration of a sustainable, productive economy – not one built on speculation – and that they intend doing that on a sector-by-sector basis. A number of points were made to the Minister that emphasised ICMSA opposition to any proposed asset test for the purposes of Third Level grants and the association indicated that they intend meeting the Minister for Education to reiterate the total opposition of the farming community to such an unfair and partial approach”, said Mr Cahill.
Ends 26 August 2011.
Jackie Cahill, 087-2820663
Cathal MacCarthy, 087-6168758
ICMSA Press Office