- Part of:
- Farming and rural
£246m support payments arriving in farmer bank accounts.
The first 2016 direct loan payments will be deposited in farmers bank accounts today, Rural Economy Secretary Fergus Ewing has confirmed.
Almost 12,000 farmers and crofters have today had their payments authorised under the National Basic Payment Support Scheme (NBPSS), which will see just under £246 million go into the rural economy.
Mr Ewing said:
“I can confirm the first direct loan payments for 2016 will arrive in farmers’ bank accounts today, which is injecting nearly a quarter of a billion pounds into the rural economy.
“The funding will give our rural communities the security and certainty they need to plan for the year ahead while driving forward the rural economy.
“We have had a great response from farmers to the 2016 scheme and will be writing to each recipient confirming their individual loan shortly. In the meantime, we continue to progress the remaining applications received after the 19 October deadline and further offer letters will be issued as eligibility is clarified.
“We would encourage the 5,000 farmers who received a loan offer but haven’t yet replied to decide if they want to apply and return the application slip as soon as possible.
“I would like to again thank our farmers and crofters for their patience and encourage any individual experiencing difficulties to contact their local area office or RPID customer helpline.”
The National Basic Payment Support Scheme has been designed such that the applicant’s Basic and Greening payment should be more than the Loan scheme sum paid to them. At the point of the Common Agricultural Policy 2016 payment being made, we will deduct the sum and pay the remainder of their Basic and Greening payment into their bank account. The sum paid will be interest free to the applicant, although we record the notional interest as de minimis state aid.