In its draft programme, the next government has made a commitment to ensure a farm succession scheme that supports generational renewal.

The new government will consist of members from Fianna Fáil and Fine Gael, with the parties to be ratified by the newly formed, Regional Independent Group, along with Michael Healy-Rae and Danny Healy-Rae.

Both party leaders today said the focus was on a "strong and stable government" to deliver continued progress on the economy, infrastructure, housing and public services over the coming years.

The government has made a commitment to act on the recommendations of the Commission on Generational Renewal in Farming, who are examining the current policy framework, along with available policy tools and supports available to encourage young people into the sector.

The government has also made a commitment to update the eligibility criteria for the Farm Succession Partnership tax credit by revamping support and eligibility criteria.

There will be a review into the eligibility criteria for the Succession Planning Advice Grant to ensure better take-up for the grant.

Financing options for young farmers will also be examined, which entails targeted installation aid or low-interest loans.

The current array of key agricultural tax reliefs will be continued and farm transfers will be supported by by reviewing the tax-free threshold for Capital Acquisitions Tax.

It will also be ensured that Ireland remains what has been described as an "exemplar" in agricultural education by investing in agricultural colleges and facilities.

The draft is now subject for approval by the party memberships over the coming days. This will then clear the way for the nomination of a Taoiseach when the Dail returns on Wednesday, January 22 and the formation of the 35th Government of Ireland.

If the programme is agreed, the two parties will work together – along with their Independent colleagues – to deliver the promises made in the draft.