The Scottish Government has announced that its advance payment of ‘CAP loans’ is already underway and that farmers can expect to see money arriving in bank accounts from Friday this week (October 4).
Announcing the release of ‘investment to help mitigate the impacts of Brexit’ the Scottish Government said this year’s loans pay-out will total £327.17m, an increase of 5% on last year’s advance payment total.
Under the National Basic Payment Support Scheme in Scotland, more than 13,450 eligible farmers are set to receive up to 95% of their Basic Payment Scheme 2019 payments, via the ‘loans’ system, with money being transferred to farm accounts from Friday onwards.
“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,” said Scotland’s Rural Economy Secretary, Fergus Ewing (pictured above).
“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, to do so as soon as possible to enable us to get your payment out to you as quickly as possible.”