CAP Payments - payments to arrive in bank accounts
CAP Payments – Payments to arrive in bank accounts
Payments worth £254 million will arrive in farmers’ and crofters’ bank accounts this week, Rural Economy Secretary Fergus Ewing has confirmed.
The national CAP Basic Payment Support loan scheme was unveiled last month as part of the Scottish Government’s CAP Stabilisation Plan and provides farmers’ and crofters’ with up to 90% of their entitlement.
Mr Ewing said:
‘’I can confirm that the first tranche of Basic Payment Support loan payments will arrive in farmers and crofters bank accounts this week. These payments mean over 10,600 farmers and crofters will now have received up to 90% of their entitlement earlier than ever before.
‘’With a further tranche being made later this week, payments worth over a quarter of a billion pounds will be injected into the rural economy showing my absolute commitment to support our rural communities.
‘’Although the deadline has now passed for applicants to be in the first tranche payments, farmers can still apply for a loan and we would encourage them to return their applications as soon as possible. Work continues to ensure all eligible businesses who have not yet been offered a loan, receive an offer by the end of October – these businesses can then expect payment before the end of November.’’
Background
As set out in the recent stabilisation plan schedule of key dates, farmers and crofters will receive the balance of their BPS entitlement between March and June 2018.
Published on: 23 October, 2017