With the permission of the Ceann Comhairle, I propose to take Questions Nos. 58 to 68, together. I am aware that there are record numbers of cattle on farms at present and that many small farmers have been unable to sell them at reasonable prices. In many cases these farmers are unable to provide feeding stuffs from their own resources to carry their stock over the winter. This problem is not confined to any one area but is most acute in counties west of the Shannon and in some midland counties.
To meet this exceptional situation I am introducing a scheme of short-term loans at a very low interest rate to enable the farmers concerned to buy feeding stuffs to enable them to carry their cattle over the winter. These loans will be confined to farmers whose rateable valuation on land does not exceed £50. Under the scheme an eligible farmer will be able to borrow up to a maximum of £500 at an interest rate of 4-5 per cent which will be repayable after a period of six months, or if the cattle are sold, before the termination of that period. The scheme is, of course, subject to clearance by the EEC Commission which I hope to get very shortly.
I would also like to refer to the recent agreement by the meat processors to create a fund to be used to assist small farmers to buy feeding stuffs at reduced prices.
I am in principle opposed to additional national aids for agriculture. They are calculated to lead to counter action by other members of the EEC which are better placed to undertake such aids. In any event I am satisfied that the measures I have referred to will relieve cases of real hardship. I am also satisfied that the provision of credit is an appropriate measure to this end.