Vulture funds and farmland
Deputy Collins argued that the Government was failing farmers as vulture funds controlled large areas of farmland, including land in Cork. The Taoiseach said he would seek a fuller reply but noted the House had passed a resolution preventing Finance from engaging with those funds.
On page 113 of the programme for Government, in a section which deals with agriculture and the marine, the Government states that it will encourage banks within and from outside the State, including the European Investment Bank, to make competitive rates available to farmers with repayment options tailored for farm incomes. The reality is that over 28,000 acres of Irish farmland, almost 1,000 of the acres being in County Cork, are under the control of vulture funds but the Minister for Finance, Deputy Donohoe, has washed his hands of the issue.
What real steps is the Government taking to save borrowers from these vulture funds? Will the Taoiseach stand idly by while families are pulled out of their homes and farms?
