A 70% advance will hit farmers’ bank accounts from Monday week under the Basic Payment Scheme (BPS).

Speaking at the tillage forum on Wednesday afternoon, Minister for Agriculture Michael Creed confirmed that money would flow into the bank accounts of the 120,000 BPS applicants from 17 October, the earliest possible date.

A 70% advance payment will be made in recognition of the difficult financial position of farmers this year. There are concerns, particularly among those involved in farm partnerships, that last year’s delays in processing payments may be repeated, but Minister Creed has insisted: “I have prioritised the processing of payments under the BPS.”

Next week will see Budget 2017 unveiled by Minister for Finance Michael Noonan, with an expectation among the farm lobby that there will be equalisation of tax credits for the self-employed to bring parity with PAYE workers, some progress on the Fair Deal Scheme and improved funding for the Farm Assist Scheme and rural social schemes, described as “almost impossible to access” by farmers.

Read more

Budget 2017 will mark the end of honeymoon for Creed