Brendan Smith (Cavan-Monaghan, Fianna Fail)

In line with the new regulations the funds must be used for measures to address the so-called "new challenges" of climate change, water management, bio-energy and biodiversity, dairy restructuring and innovation. The consultation process as to how these funds can best be used for the development of Irish agriculture is currently under way. It is also worth noting that more than 50,000 Irish farmers will be exempt from the increased rate of modulation.

See this speech in context