23 March 1998
Farmers ‘quids in’ with Euro cheques
MANY farmers will benefit from subsidy cheques made out in Euros once economic and monetary union takes effect next year, according to National Farmers Union economists.
Farmers with large arable farms might especially welcome the change because they will be able to use the Euro currency to buy fertilisers or pesticides from multi-national producers, the economists say. The Government might also allow farmers to pay taxes in Euros.
Ben Gill, NFU president, says there could be a financial advantage to farmers buying in Euros because pesticide prices are higher in the United Kingdom than in mainland Europe.
But some farmers might find the effort of making price calculations in Euros annoying. The NFU is keen that farmers should have a choice of currency.
- Financial Times 23/03/98 page 8, page I-VIII (Supplement)