Brexit loan reassurance

Responding to concerns around the impact of Brexit on the National Basic Payment Support loan scheme, Rural Economy Secretary Fergus Ewing said:

“Let me be absolutely clear, should an individual or business accept our loan offer, they will receive their entitlement regardless of the eventual Brexit outcome.

“I can also reassure people that should they accept a loan offer, we would expect to recover the loan against CAP payments. We will not be seeking early repayment from recipients in the event of no deal.

“We have made this offer specifically to help them with the potentially significant impact of Brexit.

“That is why the Scottish Government has so far issued 16,500 loan offers (with further offers to be issued shortly) at the increased rate of up to 95, which will deliver more money to farmers and crofters 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 continue to urge all eligible farmers, crofters and land managers to accept their loan offer. With payments beginning in early October, the sooner we receive their acceptance form, the sooner we can get their payment out to them.”

NFU Scotland President Andrew McCornick said: “While these are increasingly uncertain times, and the threat of a ‘no deal’ Brexit becomes more of a probability than a possibility, it is reassuring that there is absolute certainty around delivery of the current loan scheme offer from the Scottish Government.

“I have already signed and returned my loan scheme offer and I urge all those who have received an offer to do likewise. Knowing the loan scheme funding is coming in October will provide some much-needed reassurance to all farmers and crofters and deliver a hugely valuable cash injection into Scottish agriculture that we know will benefit the whole rural economy.”

Last updated: 28 August, 2019