The new tax year brings some good news for farmers as the Welsh Government has announced it has earmarked £40 million for a new Small Grants Scheme in Wales to “help farmers transform their business”.
The scheme will be part funded by the Rural Development Programme, and will offer support over a 4-year period for up to 40% of eligible costs in the following areas:
- Animal health, genetics and performance
- Crop management
- Energy efficiency
- Resource efficiency
- Information and Communications Technology (ICT)
The maximum grant will be £12,000 and around 80 items will qualify as eligible costs in the relevant categories.
It is hoped the scheme will enable farm businesses to be more competitive, whilst being more efficient, more diverse and environmentally aware.
The move is linked to the Welsh Assembly’s 5-year programme of “Taking Wales Forward”, and is expected to be open for applications in April 2017. Further details will be available shortly on the Government website.
Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.