Stevenson Welcomes Forecast Increase in Farm Incomes

Banff and Buchan MSP Stewart Stevenson has welcomed a survey carried out by Lloyds TSB which forecasts that farm incomes are to rise in the coming financial year.

Speaking following a meeting with NFU Scotland members in Turriff, Mr Stevenson said:

"Farming has suffered some tough challenges in recent years, in particular, low farm incomes. I am therefore encouraged with the results of the Lloyds TSB survey which shows the average Scottish farm income for 2003/04 is forecast to be £17,000, which is a much better figure than in recent years.

“However, I am aware from my discussions with farmers and NFU Scotland members that these forecasts must be treated with some caution as last year’s forecasts were on the optimistic side.

"Generally speaking, the rise in commodity prices last year enabled the average cereal farm to return to profitability, which is good news.

"The survey indicates that the recent industry difficulties may have passed allowing a more optimistic view to prevail. Higher farm incomes, coupled with the approaching reform of the Common Agricultural Policy will ensure a more viable future for many farm businesses which are so vital to Banff & Buchan’s economy.

"An improvement in farming fortunes will enable the industry to carry on delivering a quality product to the consumer and prosperity for the countryside.”