Walshe says farmers must not pay for grant changes
“The 40:40:20 option is fast becoming a non-runner, as banks are now putting pressure on hard-pressed farmers for money.” He said some farmers were being called in by bank managers and told they will have to take out three-year loans to fund the shortfall.
Mr Walshe has pointed out that farmers have spent more than e1.2 billion of their own money in improving their farmyards. He said they have up to e500m of bridging finance, which is costing them between e2.5m and e3.1m per month. “In the case of a farmer owed e50,000 in grant aid, bridging finance is costing from e250/month up to e310/month, for every month the grant is delayed.”
