Young farmers urged to apply for funding

Fine Gael TD for Longford-Westmeath, James Bannon.
Young farmers in Longford have been urged to apply for the National Reserve and Young Farmers Scheme in 2015.

Young farmers in Longford have been urged to apply for the National Reserve and Young Farmers Scheme in 2015.

The National Reserve will be established using 3% of the ceiling allocated to the Basic Payment Scheme in 2015, which will create a fund of close to €25 million.

Successful applicants will receive an allocation of entitlements based on the eligible land declared on their 2015 Basic Payment Scheme application.

Speaking to the Longford Leader about the initiative, local TD James Bannon explained that the Young Farmers Scheme provides a 25% top up on the average Basic Payment for a young farmer to support them in their first five years of farming.

“A fund of €24 million will be available to the Scheme for each of the years 2015 to 2019. The aim of the scheme is to assist young farmers in the initial stages of establishing a farming enterprise in their own name.

“To qualify as a young farmer an applicant must be participating in the Basic Payment Scheme in the year in which the application is made.

“The applicant must also be no more than 40 years of age at any time during the calendar year in which an application is first submitted under this same scheme.

“I would urge as many farmers as possible to apply for both of these schemes.”

The closing date for receipt of applications under the Young Farmer scheme is 15 May 2015.