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
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: