First tranche of support payments expected in next few days.
Thousands of Scottish farmers and crofters have received notification that support payments for 2024 are expected to start arriving in bank accounts at the end of this week.
It is anticipated that around 11,500 businesses will receive more than £240 million in support from Scottish Government in the next few days.
Last year, the first run also started on 4 September when around 13,000 farming and crofting businesses saw payments worth approximately £288 million delivered. By 29 November 2023, Scottish Government had delivered 95 per cent of expected support payments under the Basic Payment Scheme and Greening, amounting to almost £400 million.
Speaking at NFU Scotland’s AGM in February, the then First Minister Humza Yousaf MSP committed to delivering the 2024 payments at the earliest opportunity, matching the 2023 start date.
NFU Scotland President Martin Kennedy said: “We welcome Scottish Government, for the second year in a row, delivering on its commitment to ensure support payments arrive in the majority of farming and crofting bank accounts at the earliest opportunity.
“That is great news for the Scottish economy. Across the sector as a whole, every £1 of government funded direct payments into Scottish farming and crofting generates £6 of agricultural output.
“The prompt arrival of support payments will be welcome. The constant weather challenges faced by many mean that this is likely to have been a costly spring and summer and cash flow will have been an issue for some.
“The arrival of support payments will also be welcome by the wider rural economy as bills with suppliers are settled and plans for investment made.
“A study conducted in April by NFU Scotland featuring 12 agricultural businesses the length and breadth of the country established that they worked with a total of more than 700 different supply chain companies, spending more than £12.6 million per annum with those suppliers.
“As well as enabling farmers and crofters to produce food, reduce emissions and enhance biodiversity, support payments now and in the future are a fundamental driver of Scotland’s economy. High-quality agricultural production is vital to the wider food and drink industry – a sector that is worth over £16 billion to the Scottish economy, employs over 130,000 people, and supports Scotland’s national reputation on the world stage.
“Securing a significant uplift in the rural budget is crucial to the wellbeing of our industry. NFU Scotland’s submission to the UK Government on its future budget and the importance of agricultural funding will be issued shortly and NFU Scotland will be in Westminster next week for Back British Farming Day (11 September) reinforcing our case for the new UK Government to increase the rural support budget by at least an additional £1 billion.”
