Finance News

Comments made by Welsh Labour MS Mike Hedges about farm funding have been criticised by the Welsh farming union and described as “completely out of touch”. During a Senedd plenary debate on Wednesday, 10th January, Swansea East MS Hedges said that “there is no reason to subsidise agriculture”.

A Cambridgeshire farmer and CEO of the Nature Friendly Farming Network (NFFN) warmly welcomed recent changes to the ELM scheme, which enable farmers to receive premium payments for taking environmental actions. 

Dairy farmer Stephen Carson recently installed the UK’s first batch milking system, with milk being pasteurised and bottled on site before being sold through vending machines. Allowing him to keep the profits through the supply chain, the project was funded by a combination of government grants and specialist agri finance.

NFU Cymru has welcomed the news that 96% of farmers will receive an advance payment worth 70% of their Basic Payment Scheme today (12th October).

Farmers’ Union of Wales (FUW) and its members have voiced shock and anger at the new Habitat Wales scheme after calculations revealed a major shortfall in payments compared to the previous Glastir scheme.

Proposals for new levy rates from the start of the 2024/25 financial year have been published today (4th October) by AHDB’s sector councils, representing beef and lamb, cereals and oilseeds, dairy and pork.

Following the announcement that the Habitat Wales Scheme will open for applications this Friday (29th September), NFU Cymru is calling for further clarity on funding for the scheme amid concerns that many farmers could lose a significant portion of their income due to budget constraints.

A technical leaflet published by Organic Farmers & Growers (OF&G) outlines how farmers with organic certification can combine the Sustainable Farming Incentive (SFI) and Countryside Stewardship (CS) schemes to increase payments by up to 50% compared to historic BPS rates.

Farmers can now apply for Defra’s Sustainable Farming Incentive (SFI) scheme to get paid for taking action to protect and enhance the environment while producing food sustainably and profitably.

NFU Cymru’s Rural Affairs Board has voiced concerns that farmers’ finances may take a hit when transitioning to the new interim environment scheme, designed to fill the gap between the end of Glastir and the start of the Sustainable Farming Scheme in 2025.

To enable more farmers to be part of the scheme, Defra has announced support will be provided to those who started their Countryside Stewardship (CS) 2024 applications by the deadline of Friday 15th September to make sure they can still benefit from the scheme.

Farming groups have welcomed the package of measures announced by Defra on the eve of Back British Farming Day (12th September) to provide an uplift to the industry, but said more needs to be done to support producers currently facing a cash-flow crisis.