The lump sum exit scheme has opened today for farmers wishing to leave the industry, in turn creating opportunities for new entrants.
Farmers in England can now apply to the scheme which will provide a payment so they can exit the sector in a managed way.
In return, they will be expected to either rent or sell their land or surrender their tenancy in order to create opportunities for new entrants.
The exit payment provided will be based on the average direct payments made to the farmer for the 2019 to 2021 Basic Payment Scheme (BPS) years.
This reference figure will be capped at £42,500 and multiplied by 2.35 to calculate the lump sum, meaning that farmers could receive up to around £100,000.
Find out more at Lump Sum Exit Scheme – GOV.UK (www.gov.uk)
