14 July 1999
Jury out on sterling/euro payments

THE debate over whether to take farm support payments in sterling or euros is occupying the minds of many farmers, according to The Herald.

From the autumn of next year farmers who benefit from grant aid can opt to receive payment in either currency.

But with the euro down from 70p to 65p, the newspaper reports that only the large arable farmers in East Lothian are interested in taking up the option.

The National Farmers Union of Scotland has told the Scottish Executive that only farm businesses which expect significant purchases or loan repayments and servicing costs from or to euro block countries would be interested in taking all their European support in euros.

  • The Herald 14/07/99 page 22