On Tuesday, 21st Febuary 2017, a National Reserve Scheme was launched by Minister Creed of the Department of Agriculture, Food and the Marine, for 2017 with funding of €5 Million.
The National Reserve Scheme is being funded to the value of current all Basic Payment Scheme entitlements. The DAFM have stated that the €5 Million budget will be equivalent to the amount of unspent funds by the Young Farmers Scheme in 2015.
The National Reserve Scheme will prioritise young farmers and new farmers with successful applicants receiving entitlements at the national average value equivalent to the entitlements for the Basic Payment Scheme. The current national average under the Basic Payment Scheme is thought to be €185 per hectare.
The scheme will fund full and top-up payments to over approximately 30,000 hectares, given that the national reserve is €5 million. For this reason, it is anticipated that approximately 500 farmers will be applying for the scheme.
The closing date for the on-line applications of this and the Basic Payment scheme will be 15th May 2017.