Seven key Budget measures for farmers
We outline 7 key Budget measures that farmers should be aware of following on from the Budget
Low Cost Loans
The availability of EU-backed low-cost loans will see farmers able to avail of loans at less than 3pc. It is understood that €150m will be available to farmers and the loans will be operated through the banks.
Agri measures in the Budget include an increase in the farmers' flat rate VAT refund from 5.2% to 5.4%, with effect from January 2017. This compensates farmers who are not registered for VAT.
Today’s budget had good news for sheep farmers, with the Minister for Public Expenditure Paschal Donohoe announcing some details of a new €25m sheep scheme. This will come into effect through a €10/head ewe payment under a Sheep Welfare Scheme.