Following the announcement of the Agricultural Transition Plan last year, where the Government plans to incentivise farmers and land managers for sustainable farming practices, older farmers are now being offered the opportunity to be paid to retire under a new scheme.

The farmer could receive a lump sum payment of £50,000 to £100,000.

The aim is to help farmers that want to retire or leave the industry but have found it difficult to do so for financial reasons, and to also create opportunity for new, young, fresh talent.

Government Launches Scheme To Pay Older Farmers To Retire

Environment Secretary George Eustice said:

“Our exit scheme will offer farmers who want to exit the industry all of the area payments they would likely have received until the end of the transition period in a single lump sum. It gives them a real incentive to confront what can often be a difficult decision and will help them clear bills and settle debts.”

The consultation aims to offer a fair system to farmers to encourage growth through generational change. The impression is that younger farmers will be more open to a greener future and will be more inclined to consider diversifying

The Government is still developing the future system and are also working on the New Entrant Scheme.

If you are about to take on the family farm and are considering diversification opportunities, the Amplo team would love to hear from you. Contact us today.