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Scottish farm lending reaches 1980s highs

Scottish farm debt rose £73 million in the year to May 31.


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Lending to Scottish farms has risen for its sixth consecutive year
Lending to Scottish farms has risen for its sixth consecutive year

Scottish farm debt has risen to its highest level since the late 1980s, with a four per cent increase over the past year.

 

A survey of Scottish banks and lending institutions found outstanding loans to Scottish farms rose £73 million to £2.03 billion, this was an increase of three per cent since May 2014 when inflation is taken into account.

 

The figures also represent the sixth consecutive increase in Scottish farm debt.

 

A spokesman for the Scottish Government said: In related data, figures from the Bank of England showed that, by May 2015, the UK “agricultural, hunting and forestry” sector had seen a 42 per cent increase in debt levels since 2010.

 

"The only other sector that had seen an increase was utilities, which increased 33 per cent, with all other sectors seeing a reduction in outstanding debt."


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