There is no doubt the new €1.3bn forestry programme is a major State initiative.

It provides funding for between €746/ha and €1,142/ha tax free for a farmer for 20 years. The rate is up and the timeframe is up. Institutional investors only get premiums for 15 years.

Let’s be clear – converting to forestry has major implications for future generations and no doubt is a big economic and lifestyle decision. However, as Donal Magner points out, locking land into forestry long-term or planting maybe marginal land can now attain attractive incentives.

However, if this large-scale planting by private farmers is to happen, we need lifetime figures on returns, because the premiums end after 20 years. We also need to remove the licensing headaches which Minister McConalogue said on TV this week are fixed. Alongside this, the forestry industry must come with a vision for multispecies trees, not ditch-to-ditch Sitka, for this to work and integrate with local and existing rural communities.

The programme is new and refreshing in its ambition, but it must be accompanied by streamlined rules to allow it become a reality. Otherwise, it will continue to stagnate at less than 2,000ha planted per year. As the fine print is published, we will come back to this topic.