ICMSA issues warning

ICMSA has warned of very serious cash flow implications for many farmers after decoupling and the Single Farm Payment are introduced in 2005.

Beef and Cattle Committee Chairman John O’Leary said, “Under the existing system of direct payments, farmers received the bulk of their direct payment in October but also received significant sums at other times of the year. Based on this payment pattern, farmers organised loan repayments at appropriate times of the year”.

He said the timing of payments, which represent 100% of many farmers’ income, was absolutely crucial.