The European Central Bank has released the Euro exchange rate that will be used for calculating SPS 2011 payments. It will be 0.86665.
Every year, according to the Rural Payments Agency, 500-600 claimants fail to notify the Agency of a change of bank details leading to these farmers not being paid as early as they could be.
Farmers in England are advised to check their records now and, if necessary, provide RPA with up to date bank account details, especially those farmers who elected to be paid in Euros and who will need to provide details of a UK-based Euro bank account.
Paul Caldwell, Operations Director for RPA said:
- “Our message to farmers and their agents is ‘help us to help you’ by making sure we have the latest information on where payments should be sent. We are determined to provide prompt and effective service on payments but it is crucial that farmers provide us with the necessary information or we can’t pay them.”