Thursday, 2 May 1974
Dáil Eireann Debate
Mr. Meaney: asked the Minister for Finance if he is aware that agriculture in Ireland will require an input of £1,000 million over the next ten years to make the industry viable; and if he will state how this will be raised and the amount that will be available this year.
Mr. R. Ryan: I am aware that a figure of £1,000 million over a ten-year period has been published by the IFA Livestock Committee as the amount of investment required to implement an expansion programme which they consider desirable. If an investment of this order is required it will be financed primarily by farmers reinvesting their own income, by Exchequer grants and by borrowing from the ACC, the banks and other financial sources.
|Loan capital from ACC||£34.0m|
|Capital grants from the Vote for Agriculture||£7.3m|
|Other public investment in agriculture||£11.0m|
Mr. R. Ryan: ——the amount of money now being made available to the agricultural industry is around £120 million per year which, as I pointed out in my first reply, was about £23 million more than was made available by my predecessor. That figure is in excess of the £1,000 million to which the IFA refer.
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