Dublin North Green Party TD Trevor Sargent has raised the need for prompt payment legislation to be extended to private businesses and in particular to farmers in the interest of protecting jobs, food security and family homes.
Speaking in Dáil Éireann today the former Minister for Food and Horticulture raised again the difficulties farmers are having in accessing working capital. He highlighted the way they are being squeezed, on the one hand, by the banks, and on the other by customers refusing to pay bills.
"Farmers and growers are more vulnerable than most due to customers defaulting on unpaid bills and banks refusal to extend working capital," Deputy Sargent said.
"Growing food involves a cycle of between 15 months and two years. Banks have cost the taxpayer dearly already. A lack of working capital could well cost us further if this causes more farmers to go out of business, which, in turn, will create even more reliance on uncertain food imports," he added.
