Scotland’s farming industry is under pressure and some farms have still not received their EU subsidies Getty ImagesDebt levels in Scotland’s farming industry have soared to a record high, with almost £180 million more owed to banks than last year. At the end of May bank farm debt had reached £2.2 billion, a rise of £177 million on the previous year and the highest amount since records began in 1972. Farms also have an estimated £1.4 billion of liabilities from hire purchases, lease arrangements and other borrowing, according to Scotland’s chief statistician. The figures come after problems with a new IT system caused delays in getting European subsidies to farmers. As of August 24, 1,061 of 18,479…

Source: The Times September 12, 2016 23:03 UTC