Vol. 478 No. 2
27 Mr. O'Malley asked the Minister for Agriculture, Food and Forestry the plans, if any, he has to introduce national compensation for agricultural price reductions arising from revaluations of the green currency; and if he will make a statement on the matter. [10763/97]
30 Mr. Killeen asked the Minister for Agriculture, Food and Forestry whether he has proposed to the Government that the State top up EU funding to alleviate the effects of recent green pound revaluation; and if he will make a statement on the matter. [10679/97]
55 Mr. J. Walsh asked the Minister for Agriculture, Food and Forestry if, following his meeting with the IFA in the Davenport Hotel, Dublin 2, on 4 February 1997, he intends to pay matching funds to farmers in view of losses due to the recent green pound revaluation. [10747/97]
138 Mr. B. Smith asked the Minister for Agriculture, Food and Forestry the proposals, if any, he has to compensate farmers for the severe drop in income, particularly in the sectors affected by the green pound revaluation and the reduction in the rate of export refunds; and if he will make a statement on the matter. [10909/97]
I propose to take Questions Nos. 27, 30, 55, and 138 together.
At the Council of Ministers meeting on 17-19 March I secured agreement to the payment in 1997 of EU funded compensatory aid of some £46 million to producers in the milk, beef, cereals and sugar sectors. EU funded compensation of approximately £30.7 million will be available in 1998 and approximately £15.4 million in 1999. This compensation is for income losses suffered by producers as a result of price support cuts following the green rate revaluations of 8 November 1996 and 11 January this year. I am planning for the payment of this compensation to producers in May.
On 29 March 1997 there was a further revaluation of 2.765 per cent in the Irish green rate. I expect that additional EU compensation aid amounting to approximately £25.4 million in 1997, £16.9 million in 1998 and £8.5 million in 1999 will be agreed at today's management committee meeting in Brussels.
