Farmers will see a boost in their basic payments this year after farming minister George Eustice increased entitlement values and greening rates.
Coupled with the favourable Basic Payment Scheme (BPS) exchange rate confirmed in September, basic payments will be worth 25% more on average this year, compared to 2015.
George Eustice, MP for Camborne, Redruth & Hayle said: "Exchange rate changes since the decision to leave the EU have led to a recovery in many farming sectors and BPS payments this year will be 25% higher than in 2015."
The RPA has published the higher BPS rates online and payments under this year’s BPS will be hitting bank accounts from December 1.
Under the BPS farmers need to hold an entitlement for every hectare of eligible land they are claiming on. The size of farmers’ payments depend on how many entitlements they use, supported by eligible land and the value of those entitlements.
The greening part of payments is calculated by taking the number of entitlements that they have used with eligible land to claim payment and multiplying it by the greening value.
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