LFASS Loan Scheme Announced
The Cabinet Secretary for the Rural Economy, Fergus Ewing, announced a loan scheme in respect of LFASS payments at the recent NFU Scotland AGM.
The loan scheme will see eligible parties being offered a loan of up to 90% of their Less Favour Area Support payment for 2017. Funding for the loan scheme has been provided from “domestic” funds to avoid constraints imposed on the use of EU funds for these purposes. Loans will be automatically deducted from LFASS payments when these are actually made, with farmers expected to receive a balancing payment. State Aid rules mean that interest is chargeable on these loans, however Mr Ewing confirmed that the Scottish Government would meet the interest payment.Back to news list