The Department of Agriculture will set aside a fund of €24.8m for young farmers and new entrants, as part of the new Basis Payment Scheme in 2015.

The Minister for Agriculture, Food and the Marine Simon Coveney has said that the introduction of the new Basic Payment Scheme in 2015 will see the establishment of a National Reserve which will be aimed at new entrants and young farmers in agriculture. This will be funded by the Department of Agriculture using 3% of the Basic Payment Scheme ceiling which is the maximum allowable under the EU Regulations and will provide a fund of €24.8 million.

He was speaking in the Dail recently and answering questions from Fianna Fail spokesperson on agriculture Éamon Ó Cuív on the amount and value of entitlements held in the national reserve and the position regarding these in 2015.

The Minister said that priority under the National Reserve is given to those persons who qualify as young farmers and new entrants. He went on to say that an allocation from the National Reserve may consist of either an allocation of new entitlements or an increase in the value of existing entitlements up to the national average entitlement value.