asked the Minister for Agriculture and Fisheries the breakdown of the estimated £60 million capital investment in agriculture giving in general the sources of the capital and its allocation.
Ceisteanna—Questions. Oral Answers. - Agricultural Investment.
38.
Of the estimated £60 million a year capital investment in agriculture, over £40 million represents investment by farmers. This investment is financed by re-investment out of farm incomes and by borrowing from banks, the Agricultural Credit Corporation and other credit sources. Of the £40 million, it is estimated that about £8 million is accounted for by increases in livestock numbers on farms while investment in machinery and equipment accounts for a further £23 million. The balance represents mainly the farmers' own share of new investments in buildings, water supplies and land reclamation.
In addition to farmers' investments, a further £18½ million is being channelled into agricultural development through the public capital programme. Of this amount almost £17 million, including the additional £2.5 million authorised by the Minister for Finance in October, 1971, is carried on the Agriculture vote. Arterial drainage accounts for £1 million and non-voted capital for the state-sponsored bodies under the aegis of my Department for £500,000.