A significant increase to the Targeted Agricultural Modernisation Scheme (TAMS) ceiling for young farmers is the only solution to the rising costs of inputs which is stalling on-farm developments, according to Macra na Feirme president John Keane.
The cost of inputs across the entire economy is affecting farm development projects negatively and particularly on farms run by young farmers, Keane argued.
"With the costs of many inputs such as steel and concrete along with technology more than doubling in price, young farmers are finding it difficult to develop infrastructure on their farms," he said.
It is also the case, he said, that many farms are postponing developments because of rising costs which may have more severe management implications next winter.
The solution Keane said is a "significant increase" to TAMS for young farmers.
"This will allow further support to a cohort of young farmers who are particularly vulnerable to the current input cost crisis," he said.
Keane also emphasised that reference costs associated with development costs must continue to be reviewed but at an accelerated rate.
"Many building contractors and suppliers are only leaving quotes for supplies valid for 24 hours as costs are increasing on a very short-term basis.
"Immediate work on increasing the TAMS young farmer threshold is required by the Department of Agriculture," the Macra president concluded.