Ciarán Cannon (Progressive Democrats)

I would like to comment on the looming financial crisis that is faced by farmers, particularly those with small or medium sized holdings. Most farmers are awaiting their REPS payments. A recent EU directive stated that the REPS payment should be included with the single farm payment near the end of the year. As a result, farmers are now facing a serious cash flow problem. It is proposed that REPS payments should be made in conjunction with single farm payments, probably in October. If any of us were to get the majority of our income in a single payment at any point in the year, we would have to engage in some serious financial wizardry to make our cash flow systems work. I ask the Leader to liaise with the Minister, Deputy Coughlan, to see whether a derogation can be achieved from the requirement that the single farm payment and the REPS payment be received in one lump sum. As a result of the directive, approximately 500 farmers throughout the country who made their most recent REPS applications last November might not be paid for up to 12 months from the date of the application, in October of November of this year. That is creating a major cash flow crisis for them. Many farmers have made serious capital, or financial, inputs into their farm holdings to be eligible for REPS payments. They are now lumbered with some serious loans on their books as a result. They need cash to be able to service their loans. I ask the Leader to liaise with the Minister to see if some resolution to this crisis can be found.