The Government allocated €260 million in 2004 to finance the rural environment protection scheme. This allocation included provision to finance commitments under REPS 1 and REPS 2 together with the expected cost of the amended REPS 3, which at that time was the subject of proposals to the European Commission.
To date my Department has received some 3,500 applications for REPS 3 from farmers who were not already in REPS. A further 3,930 farmers who were already in REPS 2 have opted to transform to REPS 3. I expect payments to farmers in REPS 3 in 2004 will be in the region of €30 million to €35 millon.