Vol. 524 No. 2
209 Mrs. B. Moynihan-Cronin asked the Minister for Agriculture, Food and Rural Development if he will ensure that compensation arrangements for those in receipt of farm retirement pension (details supplied) will be made available before Christmas 2000; and if he will make a statement on the matter. [22057/00]
The reduction in the rate of pension under the scheme of early retirement from farming which arose from the revaluation of the Irish pound on the introduction of the euro in January 1999 will continue to be reflected in the rates paid.
Full compensation for the 1999 reduction was paid at the end of January this year to eligible scheme participants.
Compensation for the reduction in 2000, at a reduced rate to that which applied in 1999, will be paid in early 2001.
210 Mrs. B. Moynihan-Cronin asked the Minister for Agriculture, Food and Rural Development the way in which the £6.2 million recently announced by him for the early retirement scheme is to be spent; and if he will make a statement on the matter. [22058/00]
A new scheme of early retirement from farming which is to apply for the period from 2000 to 2006 was recently approved by the European Commission as part of my Department's rural development plan. It is projected that 7,250 farmers will avail of early retirement under this scheme at a cost of approximately £500 million.
