On farm challenges such as poor commodity prices and income volatility have informed the shape of the Department of Agriculture's spend for the coming year. It sees expenditure rise to €1.47 billion in addition to the €1.2 billion from the Basic Payment Scheme and greening measure.
Speaking in Dublin this afternoon Creed outlined a three pillar strategy involving the provision of low cost credit, increased investment inside the farm gate, and a set of comprehensive taxation measures.
"To properly address the on-going pressures on farm incomes, a strategic approach is required which seeks to provide solutions not just for today – but that will have a sustained impact over the longer term," Creed said. "Therefore I am bringing forward a comprehensive set of measures which tackle head-on many of the underlying issues undermining farm incomes for some time."
Measures
Low Cost Finance: A €150 million SBCI agri-cash flow support loan fund with an interest rate of 2.95% provides highly flexible low cost loans for Irish farmersSupport inside the farm gate: Significant spending on farm gate schemes through the Rural Development programme will see €601 million go directly to farmers in 2017 including a new €25 million sheep welfare scheme, increased participation in GLAS, BDGP & TAMS on top of €1.2 billion through the Basic payment/greening measure. Changes to Farm Assist including more favourable eligibility criteria and a €5 weekly increase, 500 extra places on the Rural Social Scheme, and extended social insurance cover for the self-employed including optical and dental coverTax Measures: Thirdly a dynamic set of tax measures including changes to the ‘income averaging system’, a €400 increase in the ‘Earned Income Tax Credit’ and further consideration of an income stabilisation measure completes the three pillar approach to strategically tackling income volatility” Brexit
"From providing access to an innovative low interest agri-cash flow fund of €150 million, to agri-taxation measures designed to strategically smooth income fluctuations, Budget 2017 provides a robust, pre-emptive response to the Brexit challenge," Creed said. "In Budget 2017, through increased funding of Bord Bia and BIM, investment in R&D and innovation, initiatives such as increasing the definition limit for micro-brewers to 40,000 hectolitres, we are putting forward practical solutions for businesses.
"€85.5m investment is provided for our vital food safety and animal health measures, which among other things underpin our access to EU and global markets."
Rural Development Programme
"Overall, for 2017, I’m allocating €601 million for investment in the Rural Development Programme – up from €494m in 2016 – an increase of over 21%," said Creed. "This will allow for the re-opening of GLAS to 12,000 more participants as well as BDGP & TAMS, the introduction of a new €25 million sheep welfare scheme and the payment of €25 million through the Knowledge Transfer Scheme."
Summary of RDP measures:
€241.7 million for agri-environmental schemes (Incl AEOS/GLAS/ REPS Organics)€202 million for Areas of Natural Constraint €52 million for the Beef Data and Genomics Programme€50 million for Targeted Agriculture Modernisation Schemes (TAMS)€25.6 million for Knowledge Transfer Programme€25 million for the Animal Welfare Scheme for Sheep Read more
Full coverage: Budget 2017
On farm challenges such as poor commodity prices and income volatility have informed the shape of the Department of Agriculture's spend for the coming year. It sees expenditure rise to €1.47 billion in addition to the €1.2 billion from the Basic Payment Scheme and greening measure.
Speaking in Dublin this afternoon Creed outlined a three pillar strategy involving the provision of low cost credit, increased investment inside the farm gate, and a set of comprehensive taxation measures.
"To properly address the on-going pressures on farm incomes, a strategic approach is required which seeks to provide solutions not just for today – but that will have a sustained impact over the longer term," Creed said. "Therefore I am bringing forward a comprehensive set of measures which tackle head-on many of the underlying issues undermining farm incomes for some time."
Measures
Low Cost Finance: A €150 million SBCI agri-cash flow support loan fund with an interest rate of 2.95% provides highly flexible low cost loans for Irish farmersSupport inside the farm gate: Significant spending on farm gate schemes through the Rural Development programme will see €601 million go directly to farmers in 2017 including a new €25 million sheep welfare scheme, increased participation in GLAS, BDGP & TAMS on top of €1.2 billion through the Basic payment/greening measure. Changes to Farm Assist including more favourable eligibility criteria and a €5 weekly increase, 500 extra places on the Rural Social Scheme, and extended social insurance cover for the self-employed including optical and dental coverTax Measures: Thirdly a dynamic set of tax measures including changes to the ‘income averaging system’, a €400 increase in the ‘Earned Income Tax Credit’ and further consideration of an income stabilisation measure completes the three pillar approach to strategically tackling income volatility” Brexit
"From providing access to an innovative low interest agri-cash flow fund of €150 million, to agri-taxation measures designed to strategically smooth income fluctuations, Budget 2017 provides a robust, pre-emptive response to the Brexit challenge," Creed said. "In Budget 2017, through increased funding of Bord Bia and BIM, investment in R&D and innovation, initiatives such as increasing the definition limit for micro-brewers to 40,000 hectolitres, we are putting forward practical solutions for businesses.
"€85.5m investment is provided for our vital food safety and animal health measures, which among other things underpin our access to EU and global markets."
Rural Development Programme
"Overall, for 2017, I’m allocating €601 million for investment in the Rural Development Programme – up from €494m in 2016 – an increase of over 21%," said Creed. "This will allow for the re-opening of GLAS to 12,000 more participants as well as BDGP & TAMS, the introduction of a new €25 million sheep welfare scheme and the payment of €25 million through the Knowledge Transfer Scheme."
Summary of RDP measures:
€241.7 million for agri-environmental schemes (Incl AEOS/GLAS/ REPS Organics)€202 million for Areas of Natural Constraint €52 million for the Beef Data and Genomics Programme€50 million for Targeted Agriculture Modernisation Schemes (TAMS)€25.6 million for Knowledge Transfer Programme€25 million for the Animal Welfare Scheme for Sheep Read more
Full coverage: Budget 2017
This is a subscriber-only article
SHARING OPTIONS: