2014-11-21  

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RPA Announces SPS 2014 Entitlement Values

The Rural Payments Agency (RPA) announced the Entitlement Values for SPS 2014 after announcing the Euro exchange rate at the end of September.

SPS Payments for England are set in Euros each year and then converted into Sterling.

Due for payment in December the SPS exchange rate for 2014 was set at €1 = £0.7773, based on the value of the Euro as of 30th September 2014. This compares to last year’s payment of £0.83605.

The announcement from the RPA set Entitlement Values for 2014 claims at:

  • €251.39 for Non-SDA Entitlements
  • €201.32 for SDA Entitlements
  • €35.26 for SDA Moorland Entitlements

James Bendle

James Bendle

On hearing the announcement of the rates from both the European Central Bank and the RPA, James Bendle Agricultural Advisor for H&H Land and Property said:

“Whilst the Entitlement Values appear significantly reduced from 2013, as a result of the exchange rate being 7.03% lower and at its lowest rate since the 2007 claim year, there are some positives to be taken from these announcements.”

“For the 2014 payments due next month, unlike the 2013 payments there will be no Modulation reductions taken from claimants payments, and claims over €2000.00 are to see a 3.1% additional payment as a result of unused funds from last year’s Financial Discipline measures. Financial Discipline will still play a part, but has been reduced to 1.3% from last year’s 2.45%.”

The financial discipline penalty is EU wide and is the mechanism that the European Commission uses to regulate their budget. So James is keen to point out to that:

“The deduction applied will appear on your December claim statements. So, when looking at cashflow and budgeting farmers would be wise to assume that payments will be reduced from 2013 levels. Even with the removal of Modulation and an additional payment for claims over €2000.00, with exchange rates at their lowest for several years, 2014 SPS payments will be reduced by around 3.4% compared with 2013 SPS payments.”

“With this announcement now made, farmers should now plan and adjust budgets accordingly, and await the final SPS payment in early December prior to the Basic Payment Scheme (BPS) going live in 2015”

HH land

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