This is a subscriber-only article
A low-cost loan initiative for farmers is “absolutely under consideration” by the Government for Budget 2018, An Taoiseach Leo Varadkar has said.
Speaking to journalists at the National Ploughing Championships, An Taoiseach said: “I’m not allowed to make any announcements about the budget today because no firm decisions are made. But we do appreciate the real value of access to finance for farmers and access to low-cost loans in particular. It’s absolutely something that we are looking at.”
The Taoiseach said he looked at the Irish Farmers Journal Red C poll which revealed that two-thirds of 1,000 farmers surveyed are in debt to at least one creditor or supplier.
“I had a look at that poll and it showed that about a third of farmers have no debt at all, but about two-thirds do have debt.
“We already introduced an access to credit scheme last year, which provided low-cost loans to farmers, which I think was very much appreciated.”
The Taoiseach attended his first Ploughing as Taoiseach on Thursday and he was accompanied by Minister for Rural and Community Development Michael Ring and Minister of State at the OPW Kevin Boxer Moran.
He said: “The sun is shining and it’s great to see such huge crowds here today. I think we were estimating that it might be the biggest Ploughing ever in terms of attendance.
“It’s really great to be here and showcase all that is good about rural Ireland and Irish agriculture. It’s a real pleasure to represent the Government here.”
Local improvement scheme
The Taoiseach, along with his ministers, announced the reinstitution of the Local Improvement Scheme at the Ploughing.
“[It] is €10m in funding this year to upgrade and improve laneways around rural Ireland, essentially roads that aren’t taken in charge by the councils but are in need of repair.
“It was cut back during the recession and it’s now been restored and I think that’s further evidence of the Government’s commitment to rural Ireland, recognising the fact that people pay their motor tax, pay their property tax and deserve to have their roads reinstated as well.”
SHARING OPTIONS: