MLA in call for capital holidays from banks

John McCallister MLA, independent Unionist for South Down has called upon the Minister for Agriculture and Rural Development to maintain pressure on local banks to offer dairy farmers capital holidays, as a means of easing their current cash flow problems.

Speaking after the Minister made a statement to the Assembly McCallister said: “The reaction by the European Commission and indeed the Northern Ireland Executive to the on-going dairy crisis has been nowhere near good enough.

“Cash flow is a major issue for many farmers who are under a real threat of going out of business. In the absence of meaningful government support it is incumbent upon local banks to do all they can to keep farmers in business. One way of doing this is by offering capital holidays to ease cash flow issues.”

He said it was important farmers stayed in business.