Dáil Éireann Debate, Tuesday - 7 November 2017
873. Deputy Brendan Smith asked the Minister for Agriculture, Food and the Marine if specific programmes introduced for small and medium enterprises due to difficulties arising from Brexit will include the farming agri sector; and if he will make a statement on the matter. [46810/17]
View answerI and my Department, in co-operation with Government and other Departments and Agencies, are attempting to mitigate the more immediate impacts of the Brexit vote on the agrifood sector through a range of budgetary measures.
In Budget 2017 I introduced a number of measures to help minimise farm gate and business costs, including the introduction of a €150 million low cost loan scheme. Under Budget 2018, in partnership with my colleague, An Tánaiste and Minister for Business, Enterprise and Innovation, Frances Fitzgerald TD, we established a new “Brexit Loan Scheme” which will provide affordable, flexible financing to Irish businesses that are either currently impacted by Brexit or who will be in the future.
The new Brexit Loan Scheme aims to make up to €300 million of working capital finance available to SMEs and mid-cap businesses (up to 499 employees). Given their unique exposure to the UK market, my Department’s funding (€9 million out of total public funding of €23 million) ensures that at least 40% of the fund will be available to food businesses.
However, due to the different State Aid legislation covering primary production, this particular Loan Scheme will not be available to farmers and fishermen. However, I also secured funding of €25 million to allow my Department to facilitate the development of a new Brexit response loan scheme for farmers, fishermen and food businesses in 2018. I will be announcing details of this scheme in due course.
