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Dáil
‹ Ceisteanna ar Reachtaíocht a Gealladh - Questions on Promised Legislation

Agrifood lending fears

Summary

Deputy Durkan warned against any curtailment of bank lending to the agrifood sector and sought confirmation that this was not Government policy. The Tánaiste confirmed it was not Government policy, saying the State was instead encouraging and guaranteeing lending to young farmers.

Leo Varadkar The Tánaiste Fine Gael

The MEP in question is absolutely entitled to his own opinion and to write whatever letters he sees fit, but I can confirm that it is not Government policy - far from it. The Government is encouraging banks to lend money to young farmers. In fact, my Department runs schemes that help to guarantee those loans. It is Government policy that banks should lend to young farmers. We want to encourage young people into agriculture and food production. We want them to invest in expanding and modernising their farms. Indeed, younger farmers, in particular, who understand the need to take climate action, know that that costs money and requires up-front investment. How are they going to do that without loans from the banks?

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