To ask the Scottish Executive what assistance can be funded through the new entrants scheme for farmers.
Funding for new entrants is available under the Rural Development Contracts - Rural Priorities scheme “ part of the Scotland Rural Development Programme. Under this scheme, there is a specific option aimed at helping young farmers who are starting a farming business for the first time to develop the business in the critical early stages. It provides interest rate relief of up to £27,397 on a commercial business development loan.
This may be used to fund, for example:
the purchase of equipment or machinery;
the construction or development of buildings and infrastructure, and
the provision of working capital.
This can be for the core agricultural business or for a diversification opportunity. The support cannot be used in relation to a loan for the purchase of land or livestock.
New entrants are also eligible to apply for many of the other options available under the rural priorities scheme, a number of which offer a 10% premium on grant levels for new entrants.
Full details on the rural priorities scheme, including funding for new entrants, can be found on the Scottish Government website at www.scotland.gov.uk/srdp.