Minister's Michael McGrath and Paschal Donohoe announced the 2022 Budget
ADVERTISEMENT
Farmers can only claim for potential Brexit-related losses sustained in 2022 and 2023 under the €1.1bn Brexit Adjustment Reserve (BAR).
This is despite losses incurred since 2020 being eligible for BAR supports.
While budget documents show that the Government has accepted that any losses during 2020 and 2021 would be eligible for support, it “has decided that the full amount of funding is to be applied to expenditure over the years 2022 and 2023.”
ADVERTISEMENT
Despite the time restriction, Food Drink Ireland (FDI) has welcomed the allocation of €500m from the fund for 2022.
While food and drink exports to Britain have largely escaped Brexit disruption to-date, there are growing fears that significant difficulties could arise in 2022, when the UK is due to introduce import checks and controls on EU produce.
“As the sector most effected by Brexit, funding must be made available quickly to support food and drink companies to address the additional costs of trading with Britain, as well as investments in innovation and market diversification,” FDI director Paul Kelly said.
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
Farmers can only claim for potential Brexit-related losses sustained in 2022 and 2023 under the €1.1bn Brexit Adjustment Reserve (BAR).
This is despite losses incurred since 2020 being eligible for BAR supports.
While budget documents show that the Government has accepted that any losses during 2020 and 2021 would be eligible for support, it “has decided that the full amount of funding is to be applied to expenditure over the years 2022 and 2023.”
Despite the time restriction, Food Drink Ireland (FDI) has welcomed the allocation of €500m from the fund for 2022.
While food and drink exports to Britain have largely escaped Brexit disruption to-date, there are growing fears that significant difficulties could arise in 2022, when the UK is due to introduce import checks and controls on EU produce.
“As the sector most effected by Brexit, funding must be made available quickly to support food and drink companies to address the additional costs of trading with Britain, as well as investments in innovation and market diversification,” FDI director Paul Kelly said.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS