The delay in delivering low-cost loans for farmers that were promised in the budget has been called “unacceptable” by Fianna Fáil spokesperson for agriculture Charlie McConalogue TD.

Speaking in the Dáil today, Deputy McConalogue pointed out that “Brexit will have happened by the time some farmers can access this loan".

Some €25m was set aside in the last budget to fund the loan scheme, which was intended to build on the previous very successful low-cost loan scheme which provided lending at a special rate of 2.95%.

Despite funding for the upcoming loan scheme having been announced last October, Minister for Agriculture Michael Creed was not able to provide details of the scheme.

It would be the second half of 2018 and I’m still working to that deadline.

“There are a lot of moving parts in this. It’s not solely the Department of Agriculture who is going out and doing this,” Minister Creed told the Dáil.

“I have always said that it would be the second half of 2018 and I’m still working to that deadline.

“I do not see that happening in the coming weeks, but we’re working on the details.”

Given the two extreme weather events that farmers have experienced this year and the financial pressures many are coming under, Deputy McConalogue stated that the delay in loans “had been a real failure”.

The actual fund is not setup and running and accessible to farmers.

“I find that for you to come in here today and say that putting these loans together takes time and it will take more time before it can actually be launched simply not acceptable in the context in the challenge facing Irish businesses and Irish farmers,” Deputy McConalogue said.

“The announcement was made in October last year that the funding would be in place and we are not far from a year on from that and the actual fund is not setup and running and accessible to farmers.”

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