The Minister for Agriculture, Food & the Marine, Michael Creed T.D. today confirmed that the number of established Registered Farm Partnerships (RFPs) has now reached 3,000. This follows the registration of a further 343 new partnerships this year ahead of the Basic Payment Application (BPS) deadline of May 15.
The Minister commented, “I am pleased that interest in the farm partnership model has continued to grow, and 3,000 Registered Farm Partnerships are currently registered with my Department.”
Apart from the obvious social benefits of forming a farm partnership e.g. better work/life balance, smoother intergenerational transfer and more efficient use of land, particularly around the milking platform, the State provides incentives to encourage the creation and maintenance of farm partnerships. These incentives include the granting of enhanced 50% stock relief to members of registered farm partnerships and allowing increased thresholds under some of the CAP Pillar I and Pillar II Schemes such as BPS and TAMS.
Minister Creed said “generational renewal within agriculture is recognised as a key challenge facing the sector. My Department has developed and supported policies to encourage the next generation of farm families and the take-up of Farm Partnerships in such numbers is testament to these incentives.”
In conclusion, the Minister commented, “My Department has put a huge effort into assisting farmers with their applications and staff in the Farm Partnership Unit showed commitment, determination and flexibility to achieve this positive outcome for all concerned.”