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NI farmers receive BPS six weeks earlier to help with cash flow

Finance, News

A one-off increase of 2.04% was made to BPS payments in 2022, equating to approximately £250 extra for each farmer
A one-off increase of 2.04% was made to BPS payments in 2022, equating to approximately £250 extra for each farmer
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Nearly £300m in direct payments to Northern Irish farmers have been issued, six weeks earlier than previous years, to help with cash flow.

The payments were sent on Thursday 1 September to over 23,200 farmers across the province, the Department of Agriculture (DAERA) said.

A one-off increase of 2.04% was made to BPS payments in 2022, equating to approximately £250 extra for each farmer.

DAERA farming minister Edwin Poots said the war in Ukraine was having a 'huge impact' on farming businesses.

"To help them with cash flow, annual payments have commenced six weeks earlier than previous years. I am pleased to confirm that £286.9m has issued."

Mr Poots said 97% of eligible applicants received payment on 1 September, with the small number of remaining to be verified by DAERA.

The Minister added: “I am also pleased to announce that there has again been a one-off increase in BPS payments, to ensure that all funding ring-fenced for this purpose is used."

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