Vol. 426 No. 7
157 Mr. Yates asked the Minister for Agriculture, Food and Forestry the proposals, if any, he has to ensure that the 50 per cent discount on Land Commission annuities will be made available to all farmers, including those who have had difficulties in clearing their arrears.
158 Mr. Yates asked the Minister for Agriculture, Food and Forestry if he will allow the benefits of the discount package on Land Commission annuities to be brought forward so that payments in the latter half of 1992 and the first half of 1993 will benefit from the reduction.
I propose to take Question Nos. 157 and 158 together.
The Land Commission annuity discount package announced on 22 September 1992 will be available to all farmers.
Arrears of annuity, if any, will be added to the discounted buy out price giving the total amount necessary to buy out the annuity.
Farmers making payments since 22 September 1992 are being given the benefits of the discount package. Those farmers wishing to buy out their annuities have been quoted the May-June 1993 buy out figures so that the 50 per cent discount applying on those dates could be availed of by them. Those paying instalments of their annuities are being given credit for those payments in order to reduce the buy-out figures for their annuities.
