24 April 1998
Scottish farmers owe more than £1bn

BORROWINGS by Scottish farmers from the clearing banks have risen to more than £1 billionn during the past year, reports The Scotsman.

Up-to-date figures will be disclosed by the end of next month. The amount is almost certain to rise further during the summer before harvest and the major sales of livestock.

The newspaper reports that farmers owe auction markets several million pounds, judging from the balance sheets of the major auction companies. Concern is mounting that some debts may be difficult to recover.

  • The Scotsman 24/04/98 page 30