RORY ENCOURAGES FARMERS TO USE BARCLAYS’ FUND
Rory is encouraging Cumbrian farmers to take advantage of the financial package recently announced by Barclays, which will provide farmers with increased working capital to help meet the additional costs brought about by the extreme snowfall during March.
The adverse weather conditions have had a severe impact on many Cumbrian farms, who are now struggling with significant losses to livestock. Rory has to date worked closely with farmers over the past few weeks to help secure the derogation necessary for feed trucks and is working with other Cumbrian MPs to ask for Government support to help farmers meet the costs of fallen stock collections.
This latest financial package by Barclays will offer farmers Capital Repayment Holidays of up to 12 months on mortgages and loans, in order to ease cash flow problems over the coming months, as well as extending and increasing overdrafts to increase the working capital available to help cover costs for items, such as the increased costs of concentrate feeds or purchased forage.
“I am sure the additional cash flow provided by this Barclays package will be sorely needed by many Cumbrian farmers at this incredibly difficult time, and I am encouraging those in the farming community to investigate further to see if it could be of value to their business.
Of course this can only be part of the solution, and it is vital we continue to pursue all possible avenues to ensure our farmers have the support they need and deserve following disastrous weather conditions here in Cumbria over the past 20 months, culminating in the exceptional March snow storms.”