A new loan facility to help farmers who won't receive their BPS
payment on day one has been announced today by Minister for
Environment, Energy and Rural Affairs, Lesley Griffiths. The
existing Basic Payment Scheme (BPS) payment window of 2 December
2019 until 30 June 2020 will be maintained, whilst a BPS Loan
Scheme for farmers who don't receive their first payment on that
date will also be provided. The loan for farmers who do not receive
their BPS payment will be worth up to 90% of the...Request free trial
A new loan facility to help farmers who won't receive their BPS
payment on day one has been announced today by Minister for
Environment, Energy and Rural Affairs, .
The existing Basic Payment Scheme (BPS) payment window of 2
December 2019 until 30 June 2020 will be maintained, whilst a BPS
Loan Scheme for farmers who don't receive their first payment on
that date will also be provided. The loan for farmers who do not
receive their BPS payment will be worth up to 90% of the claim
value.
It is hoped the BPS payment and loan scheme will provide
certainty to farmers concerned about cash flow in the upcoming
months as they approach the UK's Exit from the European Union and
the winter period. Following stakeholder and industry feedback, the
loan scheme will also be renamed the 'BPS 2019 Support
Scheme'.
Minister said: "With uncertainty
surrounding the impact of Brexit we are determined to support
farmers in every way we can and ensure they can cope with the
challenges they face in the upcoming months.
"With the UK edging ever closer to leaving the EU without a
deal it is vital we prepare and provide as much assistance as
possible to Welsh farmers. I have made it a priority to ensure we
plan sensibly and have been working with our partners, farming
unions, charities and many others to ensure our industry is in the
best possible position to deal with Brexit.
"This payment window and support scheme should help provide
some assurances to farmers. It will help them plan their finances
in the longer term and manage their immediate cash flow
too."
The support scheme would be available to all, but only paid
to farm businesses who 'opt-in' to the scheme, and only if their
BPS claim is not ready on the first day of the payment
window.
Notes to editors
· Farmers will need to apply for a
loan payment.
· Rural Payment Wales (RPW) will
provide full details and make available an online application form
in the autumn.
· Subject to the necessary terms
and conditions being met, a loan payment of 90% of the individual
farm businesses anticipated BPS 2019 claim value will be paid in
early December 2019.
