£27 million Farming Investment Fund opens to boost productivity
Farmers are now encouraged to apply for grants from the Government to purchase new equipment and infrastructure to help improve efficiency and help us build back greener.
The Farming Investment Fund consists of the Farming Equipment and Technology Fund focused on smaller grants for equipment from a set list, and the Farming Transformation Fund focused on covering more substantial technology.
The fund will help farmers invest in clean technologies, such as solar powered electric fences, water treatment systems that use ultraviolet light rather than chemicals, and cameras for monitoring livestock.
Farming Minister, Victoria Prentis, said: “I’m pleased to offer support to eligible farmers through the new Farming Investment Fund to invest in technology and infrastructure to boost productivity and deliver environmental benefits.”
“Investing in new technology and equipment on farm has a real impact on productivity and yields, as well as a benefit for the environment as we build on the historic commitments of COP 26.”
The farming industry will play a crucial role in helping the Government reach its Net Zero ambitions.
As part of the Government’s Net Zero Strategy, the Nature for Climate Fund has received an additional £124 million in efforts to help restore 280,000 hectares of peat in England by 2050 and treble woodland creation in England by the end of this Parliament.
As set out in the Agricultural Transition Plan, the Government is also introducing a range of reforms to incentivise sustainable farming practices, rewarding farmers for producing public goods such as better air and water quality, protecting wildlife, soil health and animal welfare.
As Direct Payments are phased out over the 7-year agricultural transition, the Government has committed to offer financial assistance to support farmers to invest in their businesses to improve their productivity, manage the environment sustainably and deliver other public goods.
Rural Payments Agency Chief Executive, Paul Caldwell, said: “Innovation and technology have a real-life impact across the farming sector, so I’m delighted to be able to help unlock this potential for many farmers through the Farming Investment Fund. I know how popular these schemes are so I would encourage those eligible to make an application for this valuable support.”
19 November 2021