Michael Lowry (Tipperary, Independent) | Oireachtas source

I am seeking clarification and detail on the Brexit fund for small and medium-sized enterprises, SMEs, announced in Tuesday's Budget Statement. Connected to that is the issue of the European Union-Mercosur trade deal.

Agriculture is Ireland's largest indigenous sector with over 300,000 people employed directly or indirectly in the agrifood sector. County Tipperary has a proud tradition of excellence in the agrifood sector with many famous brands produced in the county. The Tipperary Food Producers organisation is a community of SMEs working in the agrifood sector in the county, showcasing the best of Tipperary food, with over 30 members producing quality artisan products such as Cashel Blue Cheese, Crossogue Preserves, Lough Derg Chocolates, Crowe's Farm bacon and many others. Their main concern is Brexit. Tipperary is also home to many dairy co-ops which process milk into a wide range of dairy products such as cheese, butter, milk powders and baby powder for the home and export markets.

Agriculture in Tipperary is an important employer supporting thousands of jobs in our rural economy. Ireland exports 90% of its agricultural produce which is worth €1.1 billion per year to the economy. The sector has already been hit by a dramatic fall in the value of sterling against the euro from 76 pence, just before the UK Brexit referendum in June 2016, to 89 pence currently.

It is against this background that I welcome the announcement in Tuesday's budget that a new €300 million Brexit loan fund is to be established for SMEs facing unknown Brexit challenges. Several representative groups have asked me about the detail of this particular scheme. To whom will it apply? What are its terms and conditions? They have also expressed concern that the loan applications would not be taken until next March.

What is the Government's position on the current Mercosur trading bloc deal, taking into account that the IFA stated it could reduce Irish beef prices by at least 30% which would inflict losses of €500 million per annum on the industry? Will the Tánaiste give me some detail on both these matters?

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