Statement from Lloyds Bank Agriculture regarding the potential for delayed Basic Payment Scheme (BPS) payments

Andrew Naylor, head of agriculture for Lloyds Bank, said:

“As a safeguard against the possibility of late Basic Payment Scheme (BPS) payments this year, Lloyds Bank Agriculture has been working for several months on a support package for farmers who could be disadvantaged by such an event.

“The final details are yet to be announced. However, we can confirm that should payments be delayed, the provision will be available from the date the payment should have been received, and will offer affected customers an opportunity to access the working capital they need.

“We will be writing to all our farming customers with the details of this package in due course.”