The agreed legislation is on course to be in place in early/mid-September.
The €150m is part of the €500m aid package for farmers announced in July by the European Commission.
It will be used to finance a supply management scheme to provide incentives for reducing milk production.
As for the remaining €350m of the aid package, which was divided up largely based on milk production, Member States have been given until October finalise respective plans.
This will be shared between EU Member States, with the UK expected to receive €30.2m.
Individual countries then have some flexibility in how they distribute the money between farmers, subject to conditions imposed by the Commission.
Member States also have the option of matching the aid with national funds, potentially doubling the amount of support.
The Commission has stated there is scope for this money to cover other livestock sectors, not just dairy.
Member States will also be allowed to advance up to 70% of Direct Payments from October this year and 85% of area-based Rural Development payments.
In addition, the Commission intends to extend the intervention and PSA schemes for SMP, from 30 September 2016 until the end of February 2017.
Source: FarmingUK
Link: http://www.farminguk.com/News/European-Commission-sets-deadline-for-dairy-aid-package_42806.html