A €100m Brexit compensation fund for beef farmers has been secured, the Irish Farmers Journal can exclusively reveal.
Agreement on a €50m support package from the European Commission was reached on Wednesday.
It is understood the deal will see the Irish Government match this with €50m of State funding, to bring
the total fund for beef farmers to €100m.
While the Commission and Department of Agriculture are understood to be working through the details of the scheme, European Commissioner for Agriculture Phil Hogan said he is confident that the Irish authorities will take steps to ensure the quick implementation of the measure.
The funding package is based on an IFA submission to Minister for Agriculture Michael Creed and Commissioner Hogan that detailed losses of €101m by beef farmers.
Its analysis compared prices in 2015, prior to Brexit, to those received by farmers from September 2018 to March 2019.
It showed that cow prices were hit by the equivalent of €33m, steers by €30m, heifers by €23m and young bulls by €15m.
Pleased
Minister for Agriculture Michael Creed stated: “I am very pleased that our efforts to obtain an exceptional aid package from the EU Commission for Irish beef farmers have succeeded, after a sustained period of economic difficulty for them.
“We have worked hard for some time to make a case for support and I am very grateful to the Commissioner for his assistance on this. It is another example of the importance of EU solidarity when it comes to facing significant economic challenges.”
On the finer details of how the aid package will work, Minister Creed said: “The legal provisions used to provide the aid were put in place by the Irish Presidency of the EU in 2013.
“I expect that this decision will be give effect through an Implementing Regulation. My Department will examine its provisions and I look forward to engaging with the Commission as soon as possible on the next steps.”
Read more
Beef Summit a line in the sand for the sector
'Listen to the anger': farmers speak out at the Beef Summit
Editorial: Beef Summit a failure if it doesn’t lead to change
100,000 farmers' guns at risk from lead ban
This is a subscriber-only article
SHARING OPTIONS: