The Rural Development Contracts (Rural Priorities) (Scotland) Amendment (No. 4) Regulations 2009

Amendment to Schedule 2

6.  In Schedule 2 (rural priorities options), Part 1 (option, activities and eligibility conditions and rates of payment)—

(a) in option 2 (setting up of young farmers)—

(i) in column 2 in paragraph (2) for “0.5” substitute “0.25”;

(ii) for the entry in column 3 substitute—

“Support up to a maximum of £47,945 (that is up to £27,397 interest rate relief plus an establishment grant equal to 75% of the interest rate relief awarded) for businesses with an agricultural standard labour requirement of a least 0.5 full time equivalent.

Support up to a maximum of £28,767 (that is, up to £16,438 interest rate relief plus an establishment grant equal to 75% of the interest relief awarded) for businesses with an agricultural standard labour requirement of between 0.25 and under 0.5 full time.

For the interest rate subsidy, payment will be made annually in arrears over a maximum period of 5 years. The interest rate for which subsidy is payable will be capped at 3.5% above the Bank of England Base Rate.

The establishment grant will be payable in one instalment;”;

(b) in option 62 (woodland improvement grants) in column 3 after “Table D in Part 2” insert “and up to 100% of the actual cost capital items listed in Table E in Part 2”.