Thursday 2 March 2017

Clawback on the sale of entitlements sold without land cut to 20%

Minister Creed announces cut in clawback on sale of entitlements to 20%

The Minister for Agriculture, Food and the Marine, Michael Creed T.D., has today announced a cut in the amount of clawback applied to the sale of Basic Payment Scheme entitlements without land.  In 2016 the sale of entitlements without land was subject to a clawback of 50% of the number of entitlements sold.
The Minister commented “based on the experience of the level of sales of entitlements without land in 2016, I believe that a reduction in the level of claw-back to 20% is appropriate for 2017 and will assist farmers in future business planning”.
Following recent consultation between the Department and the Direct Payments Advisory Committee, comprising members of the main farming bodies and agricultural advisory and education providers, the Minister has decided that the level of clawback on the sale of entitlements without land in 2017 should be cut to 20%.
The proceeds arising from the implementation of clawback are used to replenish the National Reserve fund.