Farmers will have access to cheaper credit as result of the budget

Macra na Feirme is  welcoming the focus by Finance Minister Michael Noonan on credit, cash flow and land mobility/inheritance in the budget.

Macra President Sean Finan welcomed the move to provide farmers with access to cheaper credit.

He said:'' Affordable credit is the lifeblood of a young farmers business when starting out and establishing themselves in the industry, we look forward to hearing the full details of the scheme from  Agriculture Minister Michael Creed'.

He added that Macra also welcomes the extension of the farm restructuring relief scheme until 2019, which will aid land mobility.

Mt Finan said: "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."

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

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'.