30/09/11 - Euro exchange rate set for 2011 SPS payments
The European Central Bank has released the Euro exchange rate that will be used for calculating SPS 2011 payments. It will be 0.86665.
Every year, according to the Rural Payments Agency, 500-600 claimants fail to notify the Agency of a change of bank details leading to these farmers not being paid as early as they could be.
Farmers in England are advised to check their records now and, †if necessary, provide RPA with up to date bank account details, especially those farmers who elected to be paid in Euros and who will need to provide details of a UK-based Euro bank account.
Paul Caldwell, Operations Director for RPA said:
“Our message to farmers and their agents is ‘help us to help you’ by making sure we have the latest information on where payments should be sent.† We are determined to provide prompt and effective service on payments but it is crucial that farmers provide us with the necessary information or we can’t pay them.”
RPA makes all payments direct to bank accounts by BACS transfer.† Farmers need to provide up to date bank details by completing a CReg10 form which is available directly from RPA’s website, rpa.defra.gov.uk under ‘customer registration’.† They can also get a form or update their bank details by telephoning the RPA’s Customer Service Centre on 0845 603 7777 or by e-mailing firstname.lastname@example.org.
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Notes to Editors
- The payments for SPS, Area Payment for Nuts and Protein Crop Premium are set in Euros and are converted to sterling each year using the last exchange rate set by the European Central Bank (ECB) in September.
- Applicants selected the currency on the application form for the scheme year so can’t now change the currency they have chosen to be paid in.
- Previous years’ exchange rates:
2010 scheme €1 = £0.85995
2009 scheme† €1= £0.90930
2008† scheme €1 = £0.79030
2007† scheme €1 = £0.69680
2006† scheme €1 = £0.67770
- The Rural Payments Agency’s work helps the Department for Environment, Food and Rural Affairs to encourage a thriving farming and food sector and strong rural communities.
- RPA makes Common Agricultural Policy support payments, traces livestock and carries out inspections. We manage 60 schemes, paying farmers and traders more than £2 billion each year. To administer such a wide range of schemes and meet EU requirements we manage information on more than two million land parcels.
- Three strategic priorities drive everything we do; customer service, effectiveness and efficiency. These priorities help us improve our performance in the most cost-effective way.
Lynne Nasti, Media & Communications Manager,
Rural Payments Agency
Tel: 0118 968 7680. Email: email@example.com
Page published: 8 May 2013