Oireachtas committee to seek bank flexibility on loan repayments

Flexibility in bank loan repayments and EU intervention were the main measures discussed yesterday by the IFA and the joint Oireachtas committee on agriculture to ease the income crisis in dairy farming.

While the representatives for the main political parties and the farmer groups welcomed the €500m EU aid package to combat challenges facing European farmers, all delegates agreed other measures are urgently needed to ease pressure on the sector.

Willie Penrose, Labour TD for Longford-Westmeath, said: “We in the Government won’t be found wanting, but we have to focus on the banks to ensure that further pressure is not put on farmers in the difficulties they will face in the coming years.