Timmy Dooley (Clare, Fianna Fail) | Oireachtas source

It will be for some farmers. People who have to pay back borrowings are experiencing difficulties in their dealings with some of the banks, particularly those that are exiting the marketplace. Danske Bank, for example, is making it very difficult for the farmers it is trying to move off its books. More work needs to be done with the pillar banks to support farmers. The Commissioner, Mr. Phil Hogan, needs to build on his superlevy proposals. EU market supports, especially intervention, must be revalued to reflect the strong increases in product costs. The 2025 strategy must be focused on on-farm profitability and promoting measures to help farmers to cope with income volatility. Access to fixed-price margin contracts or other types of hedging must be promoted.

Taxation measures, such as those proposed by the Irish Farmers Association, IFA, must be enacted to help farmers mitigate income variations in a more flexible way than the otherwise welcome five-year averaging and certainly will be part of that strategy. In addition, banks must be prevailed upon to work much more constructively with this sector. I need not chart out for the Minister the importance of agriculture to both the rural economy and the entire economy of the State. A hell of a lot more buy-in from the banking sector is needed, which, as the Minister is aware, has been bailed out by all taxpayers in the State, including farmers. While there certainly is a need for education and training opportunities in farming best practices, training in financial and budget management also must be provided and this will require the proper resourcing of Teagasc. As the Minister is aware, Teagasc is in regular dialogue with Members of this House, who must continue to support that authority in its efforts to support the industry.

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