National Reserve Award Success
Agents Andrew Ranson and Stephen Rutledge, of the firm’s Banbury office, have received a number of notifications for successful client applicants. |
New entrants into farming are to get the subsidy they are due after help from rural property consultants Fisher German.“This is excellent news for these very deserving cases. It is interesting that when you do the sums a figure of around £80 per acre (£200/ha) seems to be where most awards appear to be set,” comments Mr Ranson.
Farmers who started their business in 2002 or later do not automatically receive the subsidy payments that longer-standing businesses receive. This is because the new Single Payment is currently based on historic receipts – an average of what a farmer would have received in 2000-2002. Fisher German has been helping new entrants to the industry apply to the National Reserve – a new fund set aside for such cases.
“One example was where we purchased a 200-acre (80ha) farm for a client in October 2002. Since this was right at the end of the two-year reference period, the client was obviously too late for payments based on historic receipts. But an award has been made for €24,222 (£16,518 or £83.50/acre),” continues Mr Ranson.
These initial awards from the National Reserve give an excellent guide for the level of the Regional Area Payment, which will become the main subsidy payment over the next eight years. But Mr Ranson is cautious of reading too much into these figures: “only time will tell where the actual payment levels will be set.”
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