Weaker Pound Leads to Higher Subsidy Payments
Basic Payment Scheme payments for 2017 will be just under 5% higher than in 2016 due to the currency exchange rate.
Under the rules of the Common Agricultural Policy (CAP), support payments for the UK are set in Euros and then converted to Sterling by using the average exchange rate across the month of September.
It means that the payments made this year will be at their highest exchange rate since 2009, which will surely be a welcome boost for UK farmers.
Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.
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