Outstanding debt of Scottish farms increased seven per cent over the past year, according to the latest National Statistics released by
A survey of the main banks and other lending institutions showed outstanding loans to Scottish farms rose by Pounds120 million in the year to
This was the fifth consecutive annual increase in Scottish farm debt. Taking into account the effect of inflation, debt peaked in the mid-1980s at around Pounds2.5 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.
In related data, figures from the Bank of
Note that these figures are for levels of outstanding debt, not estimates of new loans. Information is not available to show when the loans were taken out or the associated repayment periods.
The 2014 Survey of Bank Advances to Scottish Agriculture was produced by independent statistical staff free from any political interference, in accordance with professional standards set out in the Code of Practice for Official Statistics.
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