Michael Creed (Cork North West, Fine Gael) | Oireachtas source

The point I want to make is that, in the context of the negotiations I had at the tillage stakeholders meeting, there was a range of asks, including some relating to the matters the Deputy raised. However, there is a limit to the resources available and it was felt that it was best to do something strategic. At the meeting in question, for example, a figure quoted by one of the participants was that 80% of the spring barley crop is planted on the basis of merchant credit. Merchant credit costs are equivalent to credit card costs. If this product can, at a rate of 2.95%, substitute for merchant credit, it will be far more effective and will improve cash flow. There are other more critical structural issues for the tillage industry that need to be grappled with but this is one response. It is not a panacea and I do not have the silver bullet that will solve all of the issues for the industry. However, it is an attempt to recognise the sector's critical importance and to do something in the context of the very difficult year those who operate within it have experienced.

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