Lockhart welcomes banking leniency as farmers faced with financial turmoil
The DUP’s Environment, Food and Rural Affairs Westminster representative Carla Lockhart has welcomed reassurance from banking institutions prepared to interact with farmers who are facing financial pressure as a result of the inclement weather.
The Upper Bann MP added: “2023 was a challenging year for farmers and growers in Northern Ireland, and the first few months of 2024 haven’t been much better. We experienced the wettest July on record and since then unseasonable weather conditions have prevailed.
”The Upper Bann MP added: “Livestock farmers, and those involved in the arable, fruit and vegetable sectors are facing continued financial pressure as a result of storms and floods caused by the persistent wet weather. Many crops were significantly reduced or lost as fields were impassable at harvest time.“
"The unrelenting wet weather has left fields waterlogged, with farmers and contractors unable to carry out spring chores such as slurry spreading and fertiliser sowing. The conditions have also led to a delay in planting crops such as potatoes, with one leading supplier in my constituency forecasting a shortage of potatoes in the coming months.”
Ms Lockhart continued: “I am pleased that the province’s main banks have committed to taking a sympathetic and lenient approach under the circumstances. It has been impossible to get cattle turned out to spring grass, leaving many herd and flock owners facing crippling bills for extra forage and concentrates. Others are facing the prospects of repairing agricultural sheds and fences damaged during the storms.“
Banks now need to honour their commitment and work alongside those worst impacted. Unfortunately, many of our high street banks have disappeared and it is getting more difficult to have that face-to-face relationship with your account manager. I welcome the commitment, but want to see this help and support actually being offered.
Carla Lockhart MP concluded: ”Cash flow on many farms has been depleted and debt is mounting. Bovine TB is also widespread, leaving many herd owners unable to sell cattle to raise much-need capital.“
It is a worrying time for farming families, with many feeling overwhelmed and isolated. I would urge anyone who finds themselves unable to cope with the economic pressure to reach out to their local agricultural bank manager."
“Help is also available from Rural Support on 0800 1381678."
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