EC boosts beef advance

15 October 2001

EC boosts beef advance

By Adrienne Francis

THE European Commission has increased its advance payments of the beef support scheme to 80% of the total amount paid to farmers.

The decision applies to subsidies paid out under the Beef Special Premium, Suckler Cow Premium and Slaughter Premium Schemes.

Beef Special Premium and Suckler Cow Premium advance payments should be in the bank by the end of this month.

Members of the Commissions Beef Management Committee took the decision to increase the advance on Friday (12 October).

The decision marks a repeat of last years arrangement where the normal rule was amended in light of disastrous returns from the beef market.

The National Farmers Union said the increase in the advance, up from 60%, would help cash flows if payments were made on time.


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