The provision of updated Accelerated Capital Allowances for the purchase and installation of farm safety equipment introduced under the Finance Act 2020 is a very welcome one, the Cathaoirleach of the IFA’s National Farm Business Committee, Rose Mary McDonagh, has said.
The new scheme which has been introduced will make capital allowances available at a rate of 12.5% per annum over a period of eight years for these essential devices on farms.
“This will incentivise farmers to invest in equipment that will make their farms safer,” she said. Far too many families and communities have suffered the losses of the capacity of people to work in farm accidents over the years. There have also been, sadly, fatal incidents. This scheme will make investment in new and safer equipment more available to farmers.
Chairman of the Beef Committee at the ICSA Edmund Graham issued a recommendation to farmers to refuse any offers below €4 a kilogram for their cattle with the country experiencing a surge in demand in the shops following the clarification of the Brexit situation.
While this price may not even cover the cost of producing the animal, it is “the absolute minimum” required in the present circumstances, he said.
“There is no justification for the continued price differential between Ireland and the UK. The difference, which stands at around €150 per head, is a real kick in the teeth for Irish producers and increasing prices to at least the €4 mark is the only thing that will eliminate that differential,” he stated.