'IFA has taken a €1m hit from FBD': McCarthy
Published 24/02/2016 | 02:30
IFA funding has been hit by a drop of €1m per annum in income from FBD following the collapse of profits in the insurance company, one of the candidates for the association's presidency has claimed.
All three candidates for the IFA presidency have stressed the need to replace sources of funding to maintain current services as farmers again called for an end to the controversial levies collected by factories, dairies and marts on the IFA's behalf.
Kerry native Flor McCarthy told the hustings in Limerick that the IFA's income of €12m a year had included around €1m from FBD which was "now gone".
However, IFA headquarters stated that funding from FBD was not down by €1m but declined to provide another figure.
"We are definitely back by €2m at this stage and whether we are back more or not I cannot tell you," said Mr McCarthy.
The collection of levies by factories remained a "massive issue" but he stressed a well-funded organisation was vital to maintain services.
If a "creditable proposal" for a replacement of the levies could be placed on the table he would support it, he added.