Vol. 475 No. 7
234 Mr. B. Smith asked the Minister for Agriculture, Food and Forestry the proposals, if any, there are to pay full compensation to dairy farmers in respect of the two green pound revaluations; and if he will make a statement on the matter. [5707/97]
253 Mr. J. Walsh asked the Minister for Agriculture, Food and Forestry his views on the losses incurred by farmers in view of the strong Irish pound; and if he will make a statement on the matter. [6060/97]
I propose to take Questions Nos. 234 and 253 together.
The recent strength of the Irish pound against the currencies of EU member states other than the UK has made market conditions for the sale of Irish food in those member states more difficult. It has also reduced the value in Irish pounds of EU market supports. On the other hand, the depreciation of the Irish pound against sterling has strengthened the position of Irish food in the UK market. Moreover, under EU Regulations, the value in Irish pounds of direct payments to farmers has been protected from the two recent revaluations of the Irish green pound.
The European Commission has made a proposal to the Council for the payment of compensation to Irish farmers for the losses resulting from those revaluations. The earliest practicable time for the Council to adopt the proposal is at its meeting fixed for 17-19 March. The aid will be payable to farmers in the beef, dairying, arable crops and sugar sectors.
