Thursday, August 22, 2019

Rural agency makes bridging payments to farmers

May 1, 2019 by  
Filed under News & Business

The Rural Payments Agency started making bridging payments to farmers awaiting support scheme money on 12 April. This will cover Basic Payment Scheme (BPS) 2018 claims and Countryside Stewardship 2018 advance payments.

While more than 99% of BPS 2018 claims have now been processed, the agency said remaining eligible claimants would receive a payment for 75% of the estimated value of their claim. This would help with cash flow while the remaining amount was processed, it said.

Bridging payments will also cover unpaid 2018 Countryside Stewardship advance payments. The agency has written directly to farmers to provide an update on bridging payments and how these payments will be calculated.

RPA chief executive Paul Caldwell said: “Our focus remains on processing the remaining claims and paying farmers as quickly as possible. I would like to thank all those involved for their continued efforts on this.”

A bridging payment is an interest-free loan to customers ahead of their full payment, providing them with 75% of the current estimated value of their claim. Once the full payment has been processed and made, the bridging payment amount will be held back.

Meanwhile, farmers and land managers are reminded to submit their 2019 BPS applications as early as possible. The claim window for the scheme closes on 15 May 2019.

studiopress