Farm Business Council Report September 2024

Summary:

• IFA Budget 2025 Submission
• Budget 2025 Priorities
• Residential Zoned Land Tax deferred
• Farm Finance Meeting August/September

Budget Submission 2025

IFA Farm Business Chair Bill O’Keeffe and IFA President Francie Gorman led an IFA meeting with the Minister for Agriculture Charlie McConalogue on the IFA Budget Submission.

Set against the stark context of the recently published Teagasc National Farm Survey which show that the average family farm income in Ireland is now below €20,000, the lowest level in over a decade.

Difficult weather conditions, high input prices and declining output prices have driven farm incomes to unsustainable levels. Targeted measures, as outlined in the IFA Budget Submission and highlighted in the Budget 2025 Priority document are needed to address this income crisis.

Residential Zoned Land Tax Deferred

While the deferral of the RZLT is welcome, a permanent resolution that removes all farmland from the scope of RZLT or possible land tax, needs to be introduced by the Department of Finance within the lifetime of this Government.

IFA met with Minister for Finance Jack Chambers and Minister for Housing in a campaign to have farmland removed from the scope of RZLT and IFA President has engaged with Taoiseach Simon Harris on this priority for IFA on several occasions in recent weeks. 

               

IFA meeting Jack Chambers in Co Dublin on RZLT

IFA Delegation meeting Minister Jack Chambers on the farm of Mayo IFA Chair John Lynskey. 

Good engagement on the Co IFA Budget 2025 Priorities for all farmers. 

IFA Farm Business Chair Bill O’Keeffe and Dublin IFA Chair Paul Flynn meeting Darragh O’Brien on RZLT and Budget 2025 Priorites.

Regional Farm Finance Meetings 

IFA President and Farm Business Chair Bill O’Keeffe are hosting open meetings for all members.  IFA will outline the current challenges on-farm being caused by weather and policy changes and the financial impact on farm business. 

There will be a brief presentation from main banks and credit unions on what’s available for farmers that experience cashflow difficulties, in particulate farmers who want to transfer merchant/co-op and contractor debt into structured banking credit. 

Panel discussion facilitated by Bill O’Keeffe IFA Farm Business Chair followed by Q&A.

Dates and Venues:

All meetings to start at 8pm. 

• Cork – Thursday 29^th August, (Cork Marts Fermoy)

• Kilkenny – Monday 2^nd September (Newpark Hotel)
• Mullingar – Monday 9^th September (Bloomfield House Hotel)
• Castlebar – Wednesday 11^th September (McWilliam Park Hotel)

IFA meeting with Minister for Finance, Jack Chambers and Minister for Public Expenditure & Reform, Paschal Donohoe in advance of Budget 2025.

Budget 2025 will be on Tuesday 1^st October.

Next Farm Business Committee meeting will be held on Wednesday 2^nd October at 10.30am in The Farm Centre.