ICMSA: Government must put ‘manners on the banks’

INTEREST paid on farm borrowings now represents the second biggest cost on farms after animal feed and before the cost of fertiliser, according to the Irish Creamery Milk Suppliers Association president Jackie Cahill.

He said as interest rates rise and as banks become tempted to increase their margins, this burden is going to increase.

“Putting manners on the banks should be one of the main items on the Government’s agenda,” he said.