2015-10-02  

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2015 Basic Payment Scheme Exchange Rate Set

The Rural Payments Agency has now announced the Euro to Sterling exchange rate which will affect payment values for Basic Payment Scheme claimants.

Basic Payment Scheme payments for England are set in Euros and then converted into sterling and the rate, an average of the European Central Bank exchange rates set in September, will be €1 = £0.73129.

Euros

Tim Sedgewick of H&H land and Property said:
"This reduction will especially affect the value of payments for claimants who solely farm Non-SDA land in England”.

“However, the lower exchange rate may well be offset for those claimants who farm a mixture of land types according to the Rural Land Register”.

“It is important to remember that for the first time Non-SDA and SDA payment rates will be the same. This is the so called moving of money ‘up the hill’. Therefore, those farming solely SDA and/or Moorland land could find themselves with a higher payment than last year”.

The Rural Payments Agency will make full payments on BPS claims from December and as early as possible in the payment window, with the majority in December and the vast majority by the end of January.

The previous year’s exchange rates for the old Single Payment Scheme are below. These rates were set using the European Central Bank single day exchange rate as at 30 September.

Year Rate
2014 €1 = £0.77730
2013 €1 = £0.83605
2012 €1 = £0.79805
2011 €1 = £0.86665
2010 €1 = £0.85995
2009 €1 = £0.90930
2008 €1 = £0.79030
2007 €1 = £0.69680
2006 €1 = £0.67770
2005 €1 = £0.68195

Gov

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