asked the Minister for Agriculture if he is aware that there are approximately 500 retired farmers under the farm retirement scheme whose annual incomes as a result of participating in the scheme are approximately £2,000 for a husband and wife; and whether he is prepared to increase substantially this income level having regard to inflation.
Written Answers. - Farm Retirement Scheme.
103.
For many years the annuities payable under the farmers' retirement scheme have been increased annually in line with increases in the consumer price index. The latest increase took effect on 1 May 1983 and brought the annuities to £2,268 for a married couple and £1,512 for a single or widowed person. Participants in the scheme have of course, also the sale price or lease rent of the land, plus a premium of 10 per cent of the purchase price, subject to a maximum of £1,500, or twice the annual lease rent subject to a maximum of £3,000.