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Rural Land & Business

Single Farm Payment Euro Exchange Rate Confirmed

The RPA (Rural Payments Agency) has confirmed the Euro Exchange Rate for Single Farm Payment (SPS) 2011 as 0.86665. The figure is based on the exchange rate for 30th September 2011 and compares favourably to the rate of 0.85995 £:€ for 2010. The 2011 rate however is still below the rate set for SPS 2009 of 0.90930 £:€.

The same rate will be used for all aspects of SPS (including historic reference amount changes due to sugar SPS monies), Area Aid for Nuts and Protein Crop Premium. All landowners should by now be aware that SPS 2011 is the last year that entitlements in England will have historic reference amounts included in their unit value. Next year will see a 100% regional flat rate figure.

In England there is no change to the overall rate of modulation of 19%, but within this headline figure, the proportion in money terms of the modulation that is EU modulation increases by one percentage point and as a consequence the proportion of English modulation reduces by the same amount.

For further information on Single Farm Payment please contact Lucinda Clifford on tel: 01833 637000.

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