Rose Conway Walsh (Sinn Fein) | Oireachtas source

I extend my sympathy and that of the Sinn Féin team to the families of Ana Kriegel and Jastine Valdez who lost their lives over the past week. They are tragic and shocking situations and they should refocus us on the work we need to do to keep everyone, but particularly women, safe in Ireland. Everybody is horrified at what happened in recent days.

I also want to talk about agriculture and farming and about vulture funds. Some 2,500 or even 3,000 farmers may be in danger of losing their lands to vulture funds. This amounts to at least 150,000 acres under threat. Vulture funds specialise in forcing though quick-fire sales when an alternative is available, and I have spoken to many farm families on this matter who tell me that vulture funds are refusing to engage. The banks say the protection afforded to the loans they sold off to vulture funds continues after the sale but that is not the case. The funds are refusing to restructure loans, meaning farmers are forced down the legal route when they do not have the money for the huge legal expenses which are involved in that. The vulture funds have the money, however, because they are hugely wealthy companies in the first place but also because they get away without paying any tax. The farming community do not get away without paying tax. The smallest of farm incomes are taxed and farmers have to submit their returns every year.There is a real contrast between how vulture funds and farm families are treated. Recent comments were made in committees and by commentators that farmers are not engaging on non-performing loans. It has been said again that non-performing loans have to be dealt with but that is not correct because in many cases the level of defaulter arrears is quite small. Our experience is that farm loans are very attractive to vulture funds as their level of security is very strong. The cynicism shown by the companies will have a devastating effect on families that have worked the land for generations and make a hugely positive contribution to their communities. Does the Government have any plans to ensure the agricultural sector is not hit hardest and that forced sales to make a quick buck are not allowed to threaten the social fabric of rural Ireland. One must ask who will end up owning those farms at the end of the day. Farms are located in the middle of communities. In some cases relatives often own parcels of adjoining land and the question is who will end up owning it. That has significant consequences for us in the short, medium and long terms, and it needs to be stopped. Legislation must be put in place to control vulture funds and how they are treating farm families at the moment.