Ready, Steady, No – Farming Investment Fund Postponed
Phillip Norden
Nov, 03 2021DEFRA Delays Farming Investment Fund Launch
DEFRA has postponed the much-anticipated launch of the new Farming Investment Fund until later this month. This delay is frustrating and concerning because the scheme sits under the Agricultural Transition Plan. Farmers have every reason to feel disappointed that the firm dates for removing the Basic Payment Scheme (BPS) are not matched by equally firm dates for implementing new schemes funded by redirected BPS money.
Impact on Farm Investment
Farmers planning capital purchases now have to wait to assess whether their projects align with the Farming Investment Fund. This delay will further stall investment across the sector. So far, DEFRA has indicated the fund will cover both small equipment purchases that improve productivity and larger capital projects that transform farm businesses.
What the Fund Will Include
The Fund will build on the previous Small Grant Scheme and Countryside Productivity scheme. These programmes previously offered 40% grant support for eligible projects, including direct drills, reservoir construction, robotic weeders, and robotic milking parlours.
Why the Delay Matters
This setback comes at a critical time. Farm businesses are scrutinising costs and searching for ways to boost productivity as they prepare for the removal of BPS. The delay makes that challenge even harder.