11 Nov 2016
Minister Creed – Brexit and Price Volatility are key challenges facing the Dairy Sector
Addressing the ICOS National Conference, the Minister for Agriculture, Food and the Marine, Michael Creed TD, stated that Brexit was foremost to the minds of all Government Departments.
His own Department is in the process of contingency planning across a range of areas including currency volatility, tariffs and trade arrangements, the EU Budget, regulations and standards, custom controls and certification. The Minister acknowledged the enormous challenge Brexit poses to our national competitiveness, with Ireland exporting on an annual basis over a billion euro in beef and just under a billion euro in dairy to Britain.
Recognising that the dairy sector has experienced an extremely challenging two year period, the Minister highlighted the development of the €150 million loan package at a competitive interest rate, and the opt out to the income averaging system as mechanisms to assist farmers with immediate cash flow difficulties. The Minister also committed his Department to further consider the ICOS ‘555’ taxation proposal in conjunction with the Department of Finance.
By Eamonn Farrell
Agri-Food Policy Executive