Farmers could face cash flow problems over payments

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Farmers in Limerick and around the country could face cash flow problems – Collins 

NEW figures released this week reveal that only 52 per cent of this year’s Rural Development Programme budget allocation has been paid out.

Limerick Fianna Fáil TD, Niall Collins says farmers will face increased cash flow problems as a result of serious delays in Rural Development Programme payments.

Deputy Niall Collins stated – “It’s quite unbelievable that only half of this year’s funding for agri-schemes has been paid to farmers. This will result in serious financial hardship for farmers across the country.

“It’s particularly worrying that less than 4 per cent of GLAS payments have been made. The government failed to allocate the level of funding that it originally promised for this scheme, and now it’s failing to pay out. This is a completely unacceptable situation.

“Payments under TAMS and the Beef Genomics Scheme are also seriously behind schedule. These underspends are significant by any metric and will have serious consequences for small family farmers.

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“Many farmers have had to take out loans to keep their businesses going while they wait for their payments to come through, and these delays will exacerbate an already difficult situation. Farmers should not have to rely on banks and other financial institutions to cover the cost of works, which these agri-schemes cover. This is creating a major cash flow crisis, which is completely preventable.

“This has been a very difficult year for farmers, and these underspends and delayed payments are making a bad situation worse. I am urging Minister Creed to ensure that these payments are forthcoming this month and that farmers are not left in the lurch”.