Frances Fitzgerald (Dublin Mid West, Fine Gael) | Oireachtas source

I assure the Deputy that the Minister for Agriculture, Food and the Marine, the Taoiseach and all other Ministers are very conscious of the situation he has outlined, the potential threat that exists and the possible impact it could have on the beef industry at a very difficult time. We will be working very hard, in particular with like-minded countries, to ensure we get the best deal possible.

As regards the demand for financial support, my Department has filed for a rescue and restructuring package of about €10 million with the Commission to ensure that is available should it be needed by companies that may be impacted by Brexit. The current €300 million scheme will be in place for two to three years: loans will be for periods of up to three years and the fund will run for two years. A longer-term fund is also being considered that would support businesses and provide funding over a six to seven-year period. We are conscious of the need to ensure finance is available to companies that may be impacted by Brexit in both the short and medium term.

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