NFU in new claim for Green Pound compensation

By FWi staff

FARMERS leaders are step up the pressure on the Government to apply for EU compensation for the strength of Sterling. But they look unlikely to succeed.

Many farmers are now in deep trouble after bearing the brunt of the strongest Pound for more than 10 years, said NFU President Ben Gill.

“We will keep pushing for compensation, particularly if there is another revaluation of the Green Pound on May 3,” he said.

But the farmers look likely to fail in their battle for more money – especially as other UK industries are also reeling from Sterlings strength and reduced export levels.

Last December, Farm Minister Jack Cunningham refused to apply for agrimonetary compensation which would have totalled £960 million.

“There is no pot of gold in Brussels,” Dr Cunningham said, adding that EU compensatory rules meant the UK would have to fund about 80% of any money paid out by Brussels.

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