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€50m European Commission aid fund for Irish beef farmers

Christian Fernsby ▼ | May 16, 2019
The European Commission has agreed a €50 million exceptional aid fund for Irish beef farmers.
Irish beef farmers
Europe   Irish beef farmers
The money is to compensate farmers for the fall in beef prices suffered as a result of Brexit.

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.