70% BPS ADVANCE IN MID-OCTOBER LIKELY

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70% BPS ADVANCE IN MID-OCTOBER LIKELY
05 Sep 2017

70% BPS ADVANCE IN MID-OCTOBER LIKELY

Farm Schemes, Rural Development

IFA Deputy President Richard Kennedy has said he is hopeful that a 70% advance of the Basic Payment for Irish farmers will be agreed.

This follows the European Commission decision to grant the 70% advance to other countries who made earlier applications for the increased advance.

Richard Kennedy said the 70% advance is necessary given difficult weather conditions, as well as the serious cash flow problems developing on farms as result of poor prices related to Sterling fluctuations because of Brexit.

“Minister Creed must get agreement from the EU Commission to pay out a higher percentage of the BPS next month. A 70% advance would bring the total payout to €840m. This would be a major boost to farmers at this most difficult time,” Richard Kennedy said.

At a meeting with the Department of Agriculture yesterday, IFA sought an 85% advance on GLAS payments for the 50,000 farmers due a 2017 payment later this year.

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