Lloyds TSB: Scottish farmers feel positive

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Lloyds TSB: Scottish farmers feel positive

Mon 21st Jan 2008

Farmers in Scotland feel positive about their levels of prosperity both now and in the future, according to a new survey by Lloyds TSB.

The report shows that 2007 saw Scottish farmers experience their second highest level of prosperity in the last 12 years, with 82 per cent recording a profitable financial year.

Arable farmers saw the most positive results. Indeed, business was profitable for 91 per cent of those engaged in the sector last year, a 16 per cent increase on 2006.

And looking forward to this year, Lloyds TSB expects to see expansion in the arable and dairy sectors as well as a rise in the amount of land rented in.

Professor Donald MacRae, chief economist at Lloyds TSB Scotland, said: "The overall picture from Scottish farmers is remarkably upbeat, with many results stronger than in the last decade."

Meanwhile Lloyds TSB has also found that despite the credit crunch and a slight fall in business confidence the Scottish economy is continuing to grow and is "in good shape" going into 2008.

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