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08 Aug 2022

Substantial Basic Payment Scheme Refund announced for Waterford farmers

Substantial Basic Payment Scheme Refund announced for Waterford farmers

Basic Payment Scheme Refund of more than €20m announced for over 100,000 farmers across Ireland

Minister for Agriculture, Food and the Marine Charlie McConalogue TD, announced on Friday (June 1) the commencement of payments of over €21.7 million to approximately 100,000 farmers in Waterford and across Ireland.

This money was deducted from 2020 Basic Payment Scheme (BPS) payments under Financial Discipline and is now being reimbursed to farmers in line with the EU regulations.

Minister McConalogue stated, "I am pleased to confirm that these payments are now being reimbursed to eligible farmers. These payments will bring the total paid to Irish farmers under the 2020 Basic Payment Scheme to over €1.183 billion."

  • The financial discipline mechanism is part of the annual budgetary procedure of the European Union.
  • The financial discipline mechanism involves a monetary deduction (2.9% for the 2020 reduction) from some direct payments for the provision of a financial Crisis Reserve for the European Union.
  • The Crisis Reserve is intended to provide additional support for the agricultural sector in the case of major crises affecting agricultural production or distribution.
  • If the Crisis Reserve is not activated in the financial year, or it is not fully utilised, the unused balance is refunded to farmers in the subsequent financial year
     

 

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