Jersey’s Agricultural and Fishing Sectors to Receive Additional £1.1 Million in Funding

The agricultural and fishing sectors in Jersey are slated to receive an additional £1.1 million in government funding during the years 2025 and 2026, as announced by the minister for Sustainable Economic Development. Deputy Kirsten Morel stated that this allocation is intended to assist farmers and fishers in managing the rising minimum wage. He further explained that the funds would be disbursed via the Rural Support Scheme, which allows businesses to seek grants using rural credits acquired through advanced farming methods. Morel acknowledged that the current level of government assistance for the agricultural industry is the “barest minimum.” He remarked, “We’re at a level of support that enables farmers to see a future… but it’s likely that support will need to increase over time.” Morel indicated that subsequent administrations would need to deliberate on the extent of additional aid for agricultural industries, adding that “financially I think we need to push it up a bit further.” Additionally, Morel confirmed the official launch of the island’s agricultural loan scheme. In September, policymakers endorsed proposals to decrease the interest rate for farmers borrowing from the government, lowering it from 6.5% to 3%. Morel stated that this initiative is designed to assist farmers with the “enormous capital expenditure they have to cope with.” Follow BBC Jersey on X and Facebook. Send your story ideas to channel.islands@bbc.co.uk.Copyright 2024 BBC. All rights reserved. The BBC is not responsible for the content of external sites. Read about our approach to external linking.