Scottish farm debt increases again
SCOTTISH farm debt has increased for the fifth consecutive year, national statistics have revealed.
Levels of outstanding debt on Scottish farms increased seven per cent over the last year.
The figures, from Scotland’s chief statistician, showed total loans to the agricultural sector rose to £1.84 billion.
The increase was five per cent with inflation taken into account, and takes debt levels to their highest since the 1980s.
A spokesperson for the Scottish Government said: “Taking into account the effect of inflation, debt peaked in the mid-1980s at around £2.5 billion, before high inflation rapidly eroded the value of the sector’s outstanding debt.
“After remaining steady for a decade during the 2000s, debt levels have now risen to their highest since the late 1980s.”
Related data showed in May 2014 the UK farm sector was the only business area to experience rising debt for each of the last three years, with most other sectors seeing successive declines in debts
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