Oireachtas Joint and Select Committees
Thursday, 24 October 2019
Public Accounts Committee
2018 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 30 - Department of Agriculture, Food and the Marine
Chapter 10 - Forestry Grants
9:00 am
Mr. Brendan Gleeson:
We put the funding in for two reasons - first, as an interest subsidy and, second, to take some proportion of first losses on the scheme. I can say because we have significant engagement with the banks, which the Deputy will know this anyway, that there is a low level of default among farmers on bank loans. They are reliable payers and they tend not to over-leverage themselves, despite what one might read.
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