Christmas cash

CHRISTMAS spending in 2005 will be boosted by a €63m cheque for Irish dairy farmers, as the CAP Mid Term Review kicks in.

But that will pale into insignificance in 2006, when farmers are on course for a payout of nearly €1.5 billion.

This year and next year, the Department of Agriculture, as the EU accredited paying agency, will continue to pay about €1.6 billion annually to farmers, issuing more than 1.5 million cheques under the various EU livestock premia, compensatory allowances and area aid schemes.