€7.5 billion forest premia bill

IT costs taxpayers about €140 to deliver €100 of income to a dry stock beef farmer. Farmers may feel uncomfortable with these bald terms used by economic consultant Dr Peter Bacon.

However, that is how economists view any business; they assume for the purposes of their calculations that profit and income are the sole motives for being involved.

If that were really so, few would be involved in farming in the Ireland of the Celtic Tiger.