Last week, Ministers in DEFRA announced the launch of the new Farming Investment Fund, which will provide grants towards the cost of equipment and technology to improve the productivity of farms in a sustainable way. This is really exciting news for a constituency like ours, where the rural economy plays such a vital role in our local way of life.
The Government have committed to offering around £27 million of financial assistance to support farmers to invest in their businesses and improve their productivity, as well as benefitting the environment - something I know constituents will be delighted to hear, particularly after the recent COP26 Conference.
This fund provides grants towards large capital items to help businesses improve productivity, profitability, and environmental sustainability. They are:
- Water Management
- Improving Farm Productivity
- Adding Value
Bringing more innovation into farming is a key part of our wider Net Zero ambitions, and was outlined in out Agricultural Transition Plan document “The Path to Sustainable Farming” last year, and this fund will be a key opportunity to kick-start this transition for many farms and farmers.
The Fund is open to farmers, foresters and growers (including contractors to these sectors) in England - and will support them in focusing on more efficient production methods which will reduce resource costs, improve yields, and give them a better return.
It is also split into two areas: smaller investments: The Farming Equipment and Technology Fund; and larger investments: The Farming Transformation Fund.
How to apply
The Round 1 application period opens on 16 November 2021 and will close on 7 January 2022.
Read the FETF Round 1 manual for full details about who is eligible and what you can get funding for before you apply.