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Treasury Confirms Agricultural Spending Will Remain Till 2020

16 August 2016, at 12:00am

UK - The UK Treasury has announced that agricultural spending will continue though to 2020.

The NFU says farmers have been given much-needed certainty in the short term after the Treasury’s decision to guarantee agricultural spending though to 2020.

This guarantee means that farmers can count on receiving the Basic Payment Scheme through to 2020 and that agri-environment schemes already in place are guaranteed through to their conclusion.

The NFU is working with Defra to understand the position of those farmers applying for Countryside Stewardship this September. The NFU said it’s good to hear that other rural development grants such as Leader offered before the Autumn Statement will also be honoured.

NFU President Meurig Raymond said he is extremely pleased to hear the news officially after the NFU’s discussions with Secretary of State Andrea Leadsom, her department and the Treasury in the past three weeks. Mr Raymond said this certainty in the short term now allows time for the industry and Defra to formulate a domestic agricultural policy that is fit for purpose.

Mr Raymond said: “The Treasury’s announcement is positive for farmers. I hope that this short-term certainty will help to deliver longer-term confidence and this is exactly what farm businesses need now."

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