Irish Farmers To Get EU €250m Cash Flow Boost

The European Commission has agreed to increase the Basic Payment Scheme to Irish farmers from 50% to 70%. The payment, amounting to €250 million and due on October 16th, follows recent adverse weather that has caused cash-flow difficulties for 139,000 farming families.

Speaking at National Ploughing Championships in Tullamore this morning, Phil Hogan, European Commissioner for Agriculture and Rural Affairs confirmed details and said: “”These payments are necessary for Irish farmers who are struggling right now to pay their bills. Bad weather means that crop yields are down and stock need extra feed. I’m happy to confirm the advance of 70% rather than usual 50% that was planned, and we expect this will help cash-flow for farmers in difficulty”.

Comments are closed.