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Dáil Éireann debate -
Wednesday, 14 Jul 1982

Vol. 337 No. 10

Ceisteanna—Questions. Oral Answers. - Farmers' Indebtedness.

18.

asked the Minister for Agriculture if he is aware of the amount of irretrievable debt owed by farmers to lending institutions; and if he will make a statement on the matter.

One of my first tasks as Minister for Agriculture was to finalise arrangements with the ACC and the associated banks for the scheme of reduced interest for farmers in severe financial difficulty. This scheme, together with the EEC interest subsidy scheme for development farmers and the national interest subsidy scheme for non-development farmers, constitute a comprehensive range of measures designed to assist farmers in meeting their commitments in servicing borrowings for investment.

Is the Minister aware that only a small percentage of farmers qualify and that lending institutions are forcing farmers to sell their land?

So far some 8,900 farmers have applied under the EEC scheme and 6,200 under the national scheme. Applications under the third scheme had to be made by 30 June and it is too early to assess the response as the administration of this scheme is in the hands of the lending agencies. To date 5,000 applicants have been paid under the EEC scheme and 1,400 under the national scheme.

Is the Minister aware that farmers are being forced to sell their farms?

Farms are always being sold but there may be an increase in the number of farms coming on the market.

Surely the Minister's Department must be aware that lending institutions are putting pressure on farmers and some of them are having to sell land at less than £1,000 per acre.

I would not agree totally with the Deputy.

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