BPS Conversion 2016

Payments under the Basic Payment Scheme will be converted at a rate of €1 = 85.228p.  This is 16.5% higher than last years’ conversion rate of 73.129p.  As the table below shows, this is the best figure since 2011.

Although this is one more piece of information, we are still some way short of knowing what actual payment rates will be.  The RPA and devolved administrations still have to calculate entitlement values for 2016.  These can change on a yearly basis, depending on the number of entitlements claimed.  In addition, the final rate of Financial Discipline needs to be set at the EU level.