Bank warns UK farmers on falling SFP
English farmers are likely to see their single farm payment cheques drop by 26% after five years, according to experts at Natwest due to the national reserve being affected by new European budget constraints. The single farm payment is to replace the current EU production subsidies.
The totally new scheme will no longer be linked to production and will require farmers to work with the rural community, said Ian Kenedy, head of agriculture at Natwest, at the launch of a new bridging loan designed to help farmers' cash flows while they wait for the delayed SFP.
He has, however, pointed out the advantages of the new system which offers a lot of choice and plenty of opportunities for farmers. Although English farmers would be worst affected, those in
