€1.4bn ‘will promote vibrant agri-food sector’

THE provision of €1.4 billion for next year provides adequate financial resources for the department to play a vital role in promoting and facilitating a vibrant agri-food sector, Agriculture Minister Mary Coughlan said last night.

Ms Coughlan said the provision represents a 10% increase over the projected outturn for her department in 2004. In addition, she signalled her intention to carry forward capital savings of almost €18 million from 2004, bringing the total voted funding available to her department next year to €1.4 billion.

In addition to the national estimates provision, EU funded direct payments to farmers and market supports will amount to almost €1.9bn in 2005. This will bring total potential gross expenditure by her department to about €3.3bn, the highest level in recent years, she said.