Older farmers could receive a lump sum payment of £50,000 – capped at £100,000 for farmers with the most land.
The scheme is part of a massive overhaul of farm grants, incentivising farmers to protect the environment.
Environment Secretary George Eustice believes that some older farmers are hesitant to employ new green methods.
The government also believes that younger farmers will be more inclined to diversify their businesses to incorporate glamping or camping.
Under EU rules, the average farmer would receive about £21,000 in grants, which Mr Eustice believes encourages some farmers to ‘coast’ and ‘take no risks.
A spokesman for the Department for Environment, Food and Rural Affairs (DEFRA) said: “There’s evidence that farmers who wish to leave farming can find it difficult to generate capital to do so.
“So, a lump sum payment could help contribute to the costs of moving somewhere new or moving into an alternative sector.”
Chief executive of the Tenant Farmers’ Association, George Dunn, showed his support for the lump sum scheme and said while payments on their own will not be enough to encourage farmers to retire, the combination of them with selling livestock may make the scheme more attractive.
Under the post-Brexit scheme, grants will be used as an incentive to protect water supplies and capturing in soil and trees.
LSL News.