Farm borrowing rises to new record level
Local authorities don’t understand farming and its contribution to the rural economy. In most cases they “farm out” the management of their own farm land. They don’t talk enough to farmers about the broader benefits farming brings to society and they don’t truly celebrate the contribution farming makes to preserving iconic landscapes. This article therefore provides some useful leads for those in local government wishing to know more. It tells us:
Farm borrowing rose to £16.9bn at the end of May 2015, according to Bank of England figures.
The past year has seen UK and foreign currency net lending to agriculture increase by £1.3bn from £15.6bn in May 2014.
Bankers and analysts are reporting while some farmers are borrowing to ease cashflow problems, there are many others who are investing to future-proof their businesses.
For more insights read on….