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17:40

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This is the end of our Budget 2017 live blog. Find our detailed coverage of all the measures announced today here and don't miss our weekly podcast tomorrow and the Irish Farmers Journal on Thursday for a full analysis of the budget's impact on Irish farms and case studies.

In the meantime, KPMG has published its 2017 tax calculator below. While it does not cover all the income tax changes announced today, it will give you a fair idea of your 2017 tax bill.

17:25

Junior Minister for Agriculture Andrew Doyle has said that the €111.6m budget allocation for forestry "will allow for over 7,100ha of new forests to be planted almost 800ha more than the total area planted in 2015". He added that funding for capital investments in the commercial horticulture sector has been increased to €5m in 2017. Farmers in the horticulture sector can also use the Agri Cash Flow Support Loan Fund.

17:00

Agriculture Minister Michael Creed has given more details on the Agri Cash Flow Support Loan Fund: the interest rate will be 2.95% and each farmer can borrow up to €150,000. Read more here

16:50

The ICSA has welcomed Budget 2017, highlighting the introduction of the sheep scheme and the raised Category A threshold for Capital Acquisitions Tax. However, its president Patrick Kent was disappointed that the earned income tax credit for the self-employed was increased by €400 compared with €550 last year and that EU aid money will be used for low-cost loans, which he described as "a sticking plaster to hide deep income problems in all farm sectors".

Get more reactions from farming organisations here.

16:30

Here is the Budget 2017 story so far as far as farmers are concerned.

Some questions remain to be answered: how will the low-cost loans and the new sheep scheme operate? How much will the Exchequer add to the European Commission's €11.1m aid package?

Agriculture Minister Michael Creed is giving the details now.

16:05

Reaction from Macra na Feirme president Sean Finan: he cautiously welcomes budget measures such as lower-cost credit and the extension of land restructuring relief, but was disappointed that the new sheep scheme does not include a top-up for young farmers. Listen to the podcast below:

Listen to "Budget 2017 reaction: Macra president Sean Finan" on Spreaker.

15.50

First reaction to Budget 2017: IFA president Joe Healy welcomes new low-cost loans, tax averaging rules and scheme boost to GLAS, sheep and Farm Assist but regrets that no new money is available for ANC this year. Listen to the podcast below:

Listen to "Budget 2017 reaction: IFA president Joe Healy" on Spreaker.

15.30

What do you think?

15.28

Check out our case study of a typical dairy farmer whose income is halved this year to see how new income averaging rules can help.

14.47

We have more details on the new option to take a "bad year" tax break if you are using income tax averaging.

14.45

Do you own bogland? Find out more about the new capital gains tax exemption.

14.42

Read more about Minister Donohoe's pledge to increase GLAS spend by nearly half here.

14.37

Read key quotes from Michael Noonan's speech about farming.

14.31

We have more details about the extension of farm energy efficiency grants to sole traders.

14.12

14.10

A €44m package is announced for a flood relief scheme.

14.08

Minister Donohoe announces a €25m for a new sheep scheme, which is part of the increased budget for the Rural Development Programme at €107m.

14.05

The Department of Finance is currently tweeting out some useful case studies and examples concerning how the budget will affect you.

14.03

Minister Donohoe announces that the Department of Agriculture budget will be increased by €119m next year.

13.58

Minister Donohoe announces an increase in the farm assist budget with 500 new places for rural social scheme. Further details to be announced later by Minister Leo Varadkar

Minister Donohoe increases the state pension by €5 per week starting from March next year.

13.50

Find out more about the reduced interest farm loans announced by Minister Noonan. here.

13.45

Minister for Expenditure Paschal Donohoe announces the recruitment of 4,500 frontline staff such as Garda, nurses and teachers.

13.35

The Minister increases the tax on cigerettes by €0.50 a pack. He adds this is the only tax increase in the budget, which means there will be no hike in the tax on green diesel.

13.34

Minister Noonan announces a Sugar Tax for Ireland. It will be alligned to the sugar tax proposal already drawn up in the UK.

13.34

Minister Noonan announces a Sugar Tax for Ireland. It will be alligned to the sugar tax proposal already drawn up in the UK.

13.30

The Minister has also increased the Capital acquisitions tax threshold. Category A has been increased to €310,000 Captial acquisitions tax thresholds has been increased.

13.26

Minister Noonan has allocated €335m to improve take home pay of low and middle income earners by reducing each of lower 3 USC rates by half a percentage point (0.5%)

13.24

Bogland owners will also be able to avail of an excemption from Capital Gains Tax for payments under the new raised bog restoration incentive scheme.

13.23

Farm restructuring relief will also be extended to the end of 2019 Noonan: Farm restructuring relief to be extended until end of 2019. #Budget2017 pic.twitter.com/nZO3pO813M — Fine Gael (@FineGael) October 11, 2016

13.20

Minister Noonan has also announced that the EU's exceptional adjustment aid will be drawn down by the Dept of Agriculture to provide a low cost loan system for farmers - typically with rates below 3% per annum.

13.17

Farmers facing a poor year will be able to step out of income averaging and it will be available immediately.

13.16

First mention of farming from Minister Noonan. He says Brexit poses a real threat to Ireland's agriculture sector and has prepared a package of measures to tackle the challenges it poses.

13.11

First mention of Brexit in Minister Noonan's speech. He says Ireland must avoid a hard border with the UK inthe upcoming negotiations.

13.08

This budget will reduce the burden on the taxpayer by €500m according to the Minister, which is offset by €195m in planned revenue increases. Move to investment over tax ratio from 2:1 to 3:1 is welcome. #Budget2017 — Stephen Donnelly (@DonnellyStephen) October 11, 2016

13.05

Ministrer Noonan is projecting GDP growth of 4.2% for the Irish economy this year and a further 3.5% in 2017.

13.04

This is Michael Noonan's sixth budget since he was made Minister for Finance in 2011.

On a beautiful day in Dublin, we're live at Buswell's hotel across the road from Leinster House to bring you all the news from today's budget. Michael Noonan is just getting to his feet. Here we go.

Read more

Full coverage: Budget 2017

What farm organisations want from Budget 2017