CAP loans underway
Investment released to help mitigate impacts of Brexit.
Loans providing financial support to farmers in advance of Brexit will arrive in bank accounts from 4 October.
Under the National Basic Payment Support Scheme, more than 13,450 eligible farmers will receive up to 95% of their Basic Payment Scheme 2019 payments – an increase of 5% on previous years – totalling £327.17 million.
Farmers and crofters who have yet to either receive a loan offer or return their acceptance letter can still do so, with further payment runs planned.
Rural Economy Secretary Fergus Ewing said:
“With the UK edging ever closer to leaving the EU without a deal, the early payment of these loans is the single biggest mitigation action I can provide to farmers at this time.
“Our rural economy is on the front line of the potential impacts of Brexit, which is why we are directly investing more than £327 million into the rural economy at the increased rate of 95%, providing eligible farmers and crofters with a degree of financial certainty during these tumultuous times.
“It is also very important for farmers to understand that there is no risk these monies will need to be returned in the event of a ‘no deal’. This is their money and they are entitled to it.
“There has never been a more important time for rural businesses to take the necessary steps to ensure they are as prepared as possible for whatever Brexit outcome may be delivered. As such, I would encourage any eligible farmer, crofter or land manager who has yet to return their loan offer as soon as possible to enable us to get your payment out to you as quickly as possible.”