November 24, 2020
Business News

Tree-mendous €800,000 boost for Waterford landowners

Waterford forest owners have recieved a significant New Year funding boost.

The Government this week confirmed it is playing almost €800,000 to landowners in Waterford as part of the 2020 forestry premium payment.

They will recieve a total of €789,352 in tax free payments this week.

Junior Agriculture Minister Andrew Doyle confirmed up to 7,000 forest owners across the country will be paid a total of €33.24 million under the scheme.

Minister Doyle said: “This year’s forestry payments have commenced early and total payments issued exceed the payments made at the same time last year by almost 30%.

“This tax-free payment illustrates that forestry remains a very viable long-term investment option for farmers providing a regular income stream for up to 15 years after planting and a stable market for timber. This farm-forestry model also allows farmers to diversify their income while still maintaining livestock if they wish. I would encourage all farmers to consider the options provided under the current Forestry Programme and discuss the range of schemes with their agricultural advisor.”

Local forest owners who have not submitted their online applications so far can apply online through the Department’s Online Services website: http://www.agfood.ie

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