Seven-year Farm Investment Scheme abandoned after four months

Fine Gael Spokesperson on Community, Rural and Gaeltacht Affairs Deputy Michael Ring stated that his fears about the suspension of the Farm Improvement Scheme had been realised with the release of a statement from the Minister for Agriculture, Fisheries and Food confirming this to be the case.

"Our suspicions that this vital scheme would be abandoned have been proven correct despite attempts by the Government to play down the reality. The fact is that winding up this scheme runs completely contrary to avowed Government policy of maintaining capital spending to keep the economy growing. Where farming is concerned there is a pent-up demand at farm gate level for on-farm investment and this scheme was vital to meeting that demand.

"The Farm Improvement Scheme was launched in July by the Minister who claimed it would 'provide grant-aid for a wide range of on-farm investments over the next seven years' but yesterday she confirmed the €85 million scheme is now closed to new applications despite only being up and running for four months.