82.5 per cent of farmers have been processed for payment on the first day with £183m being paid into farmers’ bank accounts. This exceeds last year’s achievement of 75 per cent.
Attending the Royal Welsh Winter Fair at Llanelwedd Elin Jones said:
I am pleased to have this good news today. We have already exceeded the number of farmers that were paid by Christmas last year. This year I expect over 85 per cent of our farmers to receive their payments by Christmas.
Being able to plan ahead is important for all businesses, including farming. The fact that so many farmers can expect to receive their Single Payment by Christmas will be of great assistance, particularly at this time.
This demonstrates the commitment and dedication of staff in Rural Payments Wales to helping farmers in these difficult economic times.
Further welcome news is that there will be a small boost in income for most Welsh farming families this year, as those that receive the single payments in sterling will get a 10.6 per cent increase, net of modulation, for the same entitlements held, as a result of the exchange rate difference.
1 December 2008