Dáil Éireann Debate, Wednesday - 15 November 2017
191. Deputy Niamh Smyth 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. [48298/17]
Amharc ar fhreagraI and my Department, in cooperation with Government and other Departments and Agencies, are attempting to mitigate the more immediate impacts of the Brexit vote on the agri-food sector through a range of budgetary measures.
In Budget 2017 I introduced a number of measures to help minimise farm business costs, including a €150 million “Agriculture Cashflow Support Loan Scheme. Under Budget 2018, I announced, in partnership with my colleague, An Tánaiste and Minister for Business, Enterprise and Innovation, Frances Fitzgerald TD, 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. This finance will be easier to access, more competitively priced, and at more favourable terms than current offerings.
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.
Due to State aid rules, the Scheme will not be available to farmers and fishermen. However, I have secured further Budget 2018 funding of €25 million to allow my Department to facilitate the development of further Brexit response loan scheme for farmers, fishermen and food businesses in 2018. I will be announcing details of these schemes in due course
