It was further confirmed this week that farmers in Ireland are disadvantaged compared to their European counterparts when it comes to borrowing money.

As reported on the AgriBusiness pages this week, interest rates in Ireland for farmers are double those of European farmers. This shows that the banking system remains dysfunctional and highlights the importance and need for the Government’s low-cost loan scheme.

Farmers will be anxiously awaiting details of the next phase of the Government’s low-cost loan scheme, which was announced in this year’s budget.