Press release
Minster Creed announces €13.4 million Basic Payment Scheme Refund to 98,000 farmers
From Department of Agriculture, Food and the Marine
Published on
Last updated on
From Department of Agriculture, Food and the Marine
Published on
Last updated on
The Minister for Agriculture, Food and the Marine, Michael Creed TD, today announced the commencement of payments of over €13.4 million to approximately 98,000 farmers. This money was deducted from their 2017 Basic Payment Scheme (BPS) payments under the Financial Discipline rule, and is now being reimbursed in line with the EU regulations.
Minister Creed said:
"I am pleased to confirm that these payments totaling €13.4 million are now being reimbursed to eligible farmers."
The Minister added that:
"these payments will bring the total paid to Irish farmers under the 2018 Basic Payment Scheme to €1.19 billion."
ENDS
In the context of the annual budgetary procedure of the European Union, the financial discipline mechanism which is implemented by the Member States involves a monetary deduction (1.4% for the 2018 reduction) from some direct payments thereby creating a financial Crisis Reserve for the European Union. The crisis reserve is intended to provide additional support for the agricultural sector in the case of major crises affecting agricultural production or distribution. In the event that the Crisis Reserve is not activated in the financial year, or it is not fully utilised, the balance not used is refunded to farmers in the subsequent financial year, hence this reimbursement.