CHANCELLOR Sajid Javid has formally announced that £160million is to come to Scotland to 'correct' the earlier Westminster decision to share EU farm payment convergence funds across the UK.

That Treasury commitment was included in Mr Javid's headline grabbing spending review, issued this week amidst unprecedented turmoil in Parliament, and widely regarded as a loosening of the purse-strings ahead of the General Election that may emerge from the chaos.

Mr Javid admitted: “In 2013, when the UK government allocated the CAP funding within the UK, Scottish farmers lost out. Today we correct that decision, making available an extra £160m for Scottish farmers.”

Speaking for the Scottish Government, rural economy secretary Fergus Ewing said: “I have already made clear, that should we receive what has now been promised, this funding will be ring-fenced for agriculture. I now call on the UK Government to return this money as soon as possible.

“This shows what can be achieved when parliament and stakeholders all work together in the interests of Scottish farming,” he continued. “In particular, I want to thank Jim Walker for his efforts in recent months to help secure this outcome.”

For his part, Mr Walker, who has represented Scotland before Lord Bew's review of future UK farm funding, commented: “I’m delighted that this money has been confirmed by the Chancellor. Unlike some others, after the money was promised by Boris Johnson before he was elected Tory leader, and confirmed in his maiden speech as PM, I never had any doubt it would be paid. If you know the folk you deal with in business and indeed in politics it’s easier to have that kind of confidence when you strike a deal.

“I also look forward to the imminent announcement of more good news for Scotland when the Bew report is published in the next few days. That too required tough negotiations but I hope Scottish farmers will appreciate a wee bit of good news at a very difficult time for the livestock sector particularly beef producers,” he concluded.

NFU Scotland president Andrew McCornick stated: “A fundamental wrong has finally been corrected. Today’s landmark announcement recognises the historic injustice in allocation of monies and, since 2013, numerous DEFRA Ministers have regularly attended NFUS events and promised a review.

“The £160 million represents the biggest single uplift in agricultural funding in memory and is a genuine victory for NFUS lobbying, supported by many other allies.

“In terms of how NFUS believes the funding should be allocated, we will call an emergency meeting of our Board of Directors to finalise our views before discussing the outcomes further with the Scottish Government.”

Scottish MEP Alyn Smith observed: "Obviously I welcome this cash, it is sorely needed, but I can´t bring myself to praise the UK government given that it should have been ours six years ago.

"This is not news to praise, this is a bully relenting. We´ll put that EU cash to good use but how many businesses have gone under in the meantime?"