Breen welcomes Single Farm Payments of €487 million to 101,000 farmers

October 19th, 2011 - Pat Breen

Over €1 billion to be paid to farmers by end of year

Chairman of the Oireachtas Committee on Foreign Affairs and Trade and Clare T.D. Pat Breen has welcomed the announcement by the Minister of Agriculture of the advance payment of €487 million in Single Farm Payments (SFP) to 101,000 farmers. The payments have been brought forward from December to October following representations made by Minister Coveney to the EU Commission.

“Payments have started issuing directly into farmers’ bank accounts as of Monday, 17th October. Cash-flow has become a critical issue for farmers, particularly those on low incomes, and the timing of these payments is extremely important. That’s why these payments are so important for farmers and for the rural economy.

“Upon entering office, Minister Coveney made it a priority to bring forward the payments from December to October. In doing so he has shown that he is in tune with the challenges that farmers are facing. Farmers in Clare will no doubt welcome the advance payment of these figures upon which their livelihoods depend.

“The Single Farm Payment forms a considerable part of the annual income of farmers. It has taken on increased significance in the current economic climate. Huge numbers of farmers rely on the SFP to subsidise the running costs of the farm the payment often constitutes an amount greater than the net farm income.
“Additional payments will be made up to 1st December 2011 when the 50% balancing payments are scheduled to commence issuing. By the end of the year, the vast majority of the SFP will have been paid, the total value of which will be in excess of €1.2 billion.”

ENDS