The new chair said he wants to ease the serious cashflow challenges facing farmers across almost all sectors.

"I will be engaging as a matter or priority with the financial institutions and other credit providers to ensure that short-term and flexible financing options are provided to farmers, and, importantly, that the banks make farmers aware of these options.

"IFA will run a strong information campaign on farm finances during 2016, including meetings, media briefings and documentation. In addition, IFA will continue to support farmers facing credit difficulties, and I urge anyone who is under pressure to look for assistance as early as possible," he said.

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Taxation

Stapleton also said that there must be a measure found to better tackle income volatility through the taxation system, and that he will be working to develop proposals in this area in advance of Budget 2017.

The new chair thanked his predecessor Tom Doyle for the great contribution he has made over the last four years. He noted particularly his important role in delivering positive taxation measures for farmers and for farm development in the 2014 Agri-taxation review.

He also congratulated the new IFA president Joe Healy, who was a member of the IFA farm business committee prior to his election, and he pledged the full support of the committee to him.

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