The government's decision to ringfence €1.3 billion for new forestry supports will deliver a confidence boost for the sector, Fine Gael senators have said.

The Taoiseach, Micheál Martin, Minister of State with responsibility for Forestry, Pippa Hackett and Minister for Agriculture, Food and the Marine, Charlie McConalogue announced details of new forestry financial supports today (November 3).

The Taoiseach said the substantial financial package reflected how seriously the government views climate change and biodiversity challenges.

He stated:

Senators Tim Lombard and Micheál Carrigy believe the new programme will provide "certainty" for farmers.

Cork south west senator, Tim Lombard, said confirmation of the new grants and premium rates is very welcome: “There have been many concerns, especially over the last two years, about afforestation rates and how we can move the sector forward. This new forestry programme is an integral part of that."

Longford-Westmeath senator, Micheál Carrigy, added that forest owners who planted under the current scheme and who are still in receipt of premiums will also be guaranteed continued payments.

According to the Department of Agriculture, Food and the Marine, the proposed Forestry Programme 2023–2027, which is currently out to public consultation, is built around the principle of "right trees in the right places for the right reasons with the right management".

The department said it aims to deliver more diverse forest which will "meet multiple societal objectives, economic, social and environmental".

The programme outlines a series of eight different interventions: