Farm incomes up €508m in 2005

FARM incomes increased by 22.7% in 2005, a €508 million increase to €2.742 billion a year, before deductions for interest payments and land rental, figures released by the CSO yesterday show.

Commenting on the updated figures, IFA president Padraig Walshe said they were a reflection of the transition from the old direct payment system to the new single farm payment method.

“Nevertheless, the improved cashflow situation for farmers last year was welcome. The increase is mainly as a result of a carry forward of over €600m of 2004 CAP direct payments.”