Farms Owe Record Pounds 9.363bn to Banks ; Single Payment to Blame Say Experts

Daily Post › February 09, 2006

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Summary

LENDING to farmers has increased by more than a pounds 1 billion during 2005, according to figures released by the Bank of England.

At the end of December 2005, the industry had borrowed a record pounds 9,363 million, compared to pounds 8,288 million in December 2004. The rise of pounds 1,075million represents an increase of 12.9% during the year.

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Farms Owe Record Pounds 9.363bn to Banks ; Single Payment to Blame Say Experts

Euryn Jones, agricultural policy director at Barclays, said: "Lending to farmers was at a record leve...

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