Budget 2027 recognises the vital role of young farmers, but national measures alone will not solve the generational renewal challenge, Fine Gael MEP Maria Walsh has said.
MEP Walsh has said the Budget package delivers several measures she has been calling for at an EU level, as the lead negotiator on generational renewal in the European Parliament, including tax incentives for succession planning.
However, MEP Walsh has warned that these measures alone will not solve the generational renewal crisis facing the agricultural sector in Ireland, with guaranteed funding in the next CAP crucial to the solution.
MEP Maria Walsh said:
“The importance of the next generation of young farmers has been firmly recognised in Budget 2027, following on from the work I have been leading in the European Parliament. We are finally beginning to see a change in both culture and policy impacting succession planning and generational renewal in the agricultural sector. This tide change is much needed if we are to stem the haemorrhaging of young people from Irish farms.
“The measures announced on Succession Farm Partnerships are welcome. Removing the three-year holding period for applications from January 2027 and increasing the tax credit from €5,000 to €10,000 will give farm families greater flexibility when planning for the future and make it easier for the next generation to take over the family farm.
“The reality is that Ireland, however, is facing a serious generational renewal challenge in agriculture. We need to make sure that young farmers have the confidence to invest in their future and know that there will be a viable farming sector waiting for them. That is why the next CAP, and the role our Minister Martin Heydon plays in the current negotiations, is absolutely critical.
“We need strong, guaranteed funding for agriculture in the next CAP, with generational renewal properly prioritised within that. I will continue to fight for that at European level, with Minister Heydon leading current CAP negotiations in Brussels as Ireland holds the Presidency of the EU.
“Alongside succession, we also need to ensure that the farm is a safe place for the next generation to work. I welcome the extension of the accelerated Wear and Tear Allowance for Farm Safety Equipment to the end of 2029, as well as the addition of 12 further items to the scheme.
“Too many farming families continue to be affected by serious accidents on farms. The cost of safety equipment should never discourage a farmer from making their farm safer.
“Ultimately, generational renewal is about much more than the age profile of our farmers. It is about the future of rural Ireland. We have an opportunity now to make sure that the next generation sees a future in Irish agriculture. Budget 2027 takes some important steps, but securing the future of farming will require us to keep that ambition at European level, particularly through the next CAP.”