DAERA Minister announces opening date for FBIS tier one tranche three
Friday, 23 October, 2020
The Ulster Farmers’ Union (UFU) says the opening of the Farm Business Improvement Scheme Capital (FBIS-C) tier one tranche three on 2 November, is good news that will be well received by its members. Announced by Department of Agriculture, Environment and Rural Affairs (DAERA) Minister Edwin Poots earlier today, he outlined that £7.5million has been allocated for this tranche of tier one.
Tier one of FBIS-C encourages smaller scale investments to improve the sustainability of farm businesses in Northern Ireland (NI). The scheme will support the purchase of equipment and machinery ranging from £5,000 to £30,000, from a list of eligible items.
UFU deputy president David Brown said, “Tier one tranche three of the FBIS-C has been a discussion point for our farmers for quite some time and this announcement has been long awaited. We welcome this commitment from DAERA to invest in family farm businesses across NI, helping to deliver many on-farm developments and efficiencies. In turn this will have a positive knock-on effect not only on the agriculture industry but on the environment and wider rural economy.
“We advise farmers to carefully consider the options available and to only apply for what they need and what they can commit to financially without putting themselves under extra pressure. The application process requires preparation and COVID-19 has created extra challenges in terms of gathering the paperwork to coincide with the application. It is vital that our farmers set time aside to complete their application so that they can meet the deadline.”
Around £200 million was proposed for the FBIS-C scheme delivered through the NI Rural Development Programme and to date, only a fraction of this total has been delivered highlighting that the launch of tier one tranche three, should only be the beginning of further tranches being rolled out. Mr Brown urges the DAERA Minister to continue his commitment to the scheme to help farmers improve the sustainability of their farm businesses with benefits that go beyond NI’s farming sector.
More information on the FBIS is available on the DAERA website, click here.