| Commentary

53 Payments

| Commentary

5: PAYMENTS, CAPPING, REDUCTIONS AND PENALTIES

53 Payments

Payments under the Basic Payment Scheme, Greening Payments and Young Farmer Payments are made between 1 December and 30 June in the year following submission of an application.

The exchange rate used for payments is the average of the European Central Bank rates, set over the month of September prior to the payment period. A farmer can decide each year if he wants to receive his payment in sterling or in euros.

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