This is a subscriber-only article
Details of the capital grant scheme element of the Farm Business Improvement Scheme in NI, known as the Business Investment Scheme, are to be announced next week, Agriculture, Environment and Rural Affairs Minister Michelle McIlveen has said.
Speaking at the Assembly’s Agriculture, Environment and Rural Affairs committee on Thursday, Minister McIlveen said: “We are launching the preparation stage of that [the Business Investment Scheme] next week and really what that will do is provide information on the scheme.”
The Business Investment Scheme is to provide grants of 40% funding for projects costing between £5,000 and £30,000. Tier two is then to provide funding of between £30,000 to £250,000 to cover 40% of project costs.
“Obviously, that has been trailed for quite a time,” the minister told MLAs on the committee. “The scheme itself opens formally in October. It is based primarily on capital investment support and future proofing so that business have modern infrastructure,” she said.
Agri-environment
Minister McIlveen was also questioned by MLAs on delays to the new £100m Environmental Farming Scheme (EFS). “This is a legacy which I have inherited. I have tried my best as I have come into the department to move things on as quickly as possible,” she said.
Last week, the Irish Farmers Journal reported that it will be February 2017 at the earliest before the new scheme opens to farmers. This is after the Chancellor of the Exchequer Philip Hammond’s Autumn Statement and therefore does not fall into his guarantee of secured funding to 2020 if the UK leaves the EU before then.
“I am disappointed as I know other groups are, but I do think that there is still an opportunity for us to ensure that as much can be spent in advance of our exit from the EU. With this type of scheme, the capital element of it can be spent very early on,” Minister McIlveen told MLAs.
SHARING OPTIONS: