Inflation hit to value of subsidies eroding farmers’ faith in schemes
ICMSA President Pat McCormack says inflation must be taken into consideration when setting scheme payments. Photo: Don Moloney
The erosion in the real value of Department of Agriculture and EU subsidies to farmers will soon make some farmers question if participation in some schemes is worth it, according to ICMSA President Pat McCormack.
Amid rampant inflation, particularly since 2019, when tracked against the CSO’s Consumer Price Index, the value of farmers’ direct payments and key payments under the Rural Development Programme, such as under environmental schemes, have declined substantially in real terms.
