50m euro European Commission aid fund for Irish beef farmersChristian Fernsby ▼ |
Europe Irish beef farmers
The European Commission has agreed a €50 million exceptional aid fund for Irish beef farmers.
The Government will be allowed to top-up the fund to bring the total amount to €100m.
The Irish Farmers' Association had complained that some of its members were facing financial ruin on foot of what they said was a horrendous loss of €101m suffered by beef farmers due to Brexit- related uncertainties, changes to the value of sterling, and price cuts since the Brexit vote.
The European Commission examined the case and agreed that Brexit has indeed caused a substantial market disturbance for beef farmers in Ireland that exceptional aid is justified. ■