Welcome rollout of funding

Capital spending of about €114m carried over by the Government from 2011 to 2012 includes €34m for the LEADER rural development programme, and €26.9m for afforestation premia and for funding new forest planting.

The money was allocated for 2011, and amounts to 2.5% of the Government’s 2011 capital budget. The Dáil was asked to approve expenditure in the current financial year of capital sums carried over from the prior year.

Fianna Fáil TD for Laois-Offaly Seán Fleming said up to €34m was unspent in the LEADER rural development programme, because the Government had not got credit flowing through local banks. “For example, a local business wishing to expand or hire more workers can apply to its local LEADER company for a €50,000 grant. To qualify, it must produce bank certs and accountants’ reports to show it has the matching fund.