One of the mysteries of the English language finally explained.
A payment made, typically by a government body, to cover a financial deficit incurred in the course of an activity such as farming.
- ‘A case in point is the peanut program where, under the 2002 U.S. farm program, production quotas were replaced with deficiency payments.’
- ‘Expressed as a percentage of the guaranteed price paid to farmers, the deficiency payment remained virtually unchanged, from 14.97 percent in 1993 to 14.28 percent in 2000.’
- ‘The position was worsened by the British system of farm deficiency payments, which depressed prices on the British market.’
- ‘He made the decision to take the 0/92 payment (you got 92% of your deficiency payment if you harvested no crop).’
- ‘The subsidies take many forms from vast income tax credits to companies that blend gas and ethanol to loan deficiency payments for the production of corn.’
- ‘As for the USA, the Uruguay Round was a major factor in bringing about the Freedom to Farm Act of 1996, which will eventually phase out the traditional systems of deficiency payments, originating in 1935.’
- ‘The dependence of the rice marketing loan program on world prices prevents loan deficiency payments from adequately offsetting producers' market revenue losses.’
- ‘For most people in Britain it was obvious that the old British system of deficiency payments to farmers, to compensate them for loss of income due to low prices, was much more sensible.’
- ‘This protection came in the form of a federal crop insurance program, ad hoc disaster payments, and deficiency payments.’
- ‘It would result in lower prices and in more deficiency payments.’
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