Sunday, March 3, 2024

Latest payments pump £525m into UK’s rural economy

A further £525m has now been released into the rural economy, building on the advance payments made in August this year, with 97% of farmers having received the final tranche of money under the Basic Payment Scheme, says the Government’s Rural Payments Agency.

So far more than 91,000 applications and claims have been completed across the Basic Payment Scheme, Countryside Stewardship, revenue and Environmental Stewardship schemes. These payments support farmers to run profitable and productive businesses while delivering environmental outcomes in a range of habitats. £70 million under the Environmental Stewardship scheme will be issued in the next few days.

Around 850 farmers whose agreements started in October and November have now received their early payment, with a total £2.8 million paid, and those whose agreements started on 1 December are set to receive their payment in the coming days.

RPA Chief Executive Paul Caldwell said: “This year farmers and rural businesses have continued to face a number of challenges and that’s why the RPA has been working hard to improve cash flow and make sure farmers receive their final BPS payments as quickly as possible.

“Delinked payments will provide financial support over the next four years as we encourage farmers and land managers to enter our environmental land management schemes where they will be paid to take actions that will support sustainable food production while protecting the environment.”

 

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