Welcome news coming from DEFRA today which sees significant rises in both revenue payments and capital grant rates relating to both current and new schemes. There has also been an announcement that up to £1000 per annum will paid for SFI agreements. This will be paid at a rate of £20 per ha and up to 50 ha of land entered into an agreement and is for the management costs associated with the agreement.
This is news whilst not necessarily covering the shortfall as a consequence of reducing BPS payments does provide additional and secure income for farmers and land managers in an increasingly volatile and costly market place. The capital grant window opens today with CS revenue applications expected to commence in the spring, whilst SFI applications are year round. The opportunities for additional monies are available and farmers are encouraged to seek the best advice as to how to maximise on income.
There is no increase to rates under Environmental Stewardship as DEFRA considers these schemes generally more lucrative to customers.
If you'd like to discuss your payments contact one of our rural advisors today.