News

Loans Offered to Scottish Farmers to Offset Brexit Impact

Loans are to be offered to eligible farmers in Scotland for up to 95% of their Basic Payment Scheme 2019 payments to offset some of the impact of Brexit. This is an increase of 5% on previous years and demonstrates the concern the Scottish Government has over the negative fall out from the UK leaving the EU – especially if there is No Deal.

Fergus Ewing, Rural Economy Secretary in the Scottish Government said:

Fergus Ewing“The Scottish Government will shortly be issuing loan offers, providing a degree of financial certainty during these tumultuous times. Recognising the potential catastrophic consequences of a ‘No deal’ on our agricultural sector, I’m also confirming that loans will be offered at the increased rate of 95%, delivering more money to farmers through this mechanism than ever before.

“I believe there has never been a more important time for rural businesses to take the necessary steps to ensure that they are as prepared as possible for whatever Brexit outcome may be delivered.

“As such, I would encourage all eligible farmers, crofters and land managers to accept this offer to enable us to get your payment out to you as soon as possible.”

For those farmers applying in September, the payments will be made in early October. The UK is set to leave the EU on 31st of October 2019, at the latest.

 

Leave a Reply