Norfolk farmer says 'food security plan' must feature in Autumn Budget

The National Farmers Union has seven asks of Chancellor Reeves for those it represents in Norfolk and beyond

Author: Tom ClabonPublished 29th Oct 2024

A farmer in Norfolk is calling on the Chancellor to detail how the Government will strengthen the UK's food security and support agri-businesses in tomorrow's Autumn Budget.

The National Farmers Union - which represents growers in the UK - has written to the Chancellor spelling out the need for a multi-year agriculture budget worth £5.6 billion to be put in place.

"That's another knock to the sector's confidence"

Nick Deane farms in Hoveton:

"We've lost the 'Basic Payments' scheme, which was a European scheme. There's currently nothing coming in to replace that, so that means the kitty is looking pretty empty.

"If we're going to deliver on the Government's targets, we need that injection of income and that boost of income.

"There are a huge number of agreements for environmental stewardship that are sitting out there unable to be processed at the moment, as the technology isn't able to cope with it.

"So that's another knock to the sector's confidence and other thing that's yet to be sorted out. Rectifying this would be something that would help restore confidence again."

What else has the NFU asked for?

- Clarity on APR:

Confirmation that there will be no changes to APR (Agricultural Property Relief) which currently exempts farmland from inheritance tax.

- FHL tax change:

A full consultation ahead of the proposed abolition of the FHL (Furnished Holiday Lettings) regime which comes into effect in April 2025.

- Resourcing

To ensure there is adequate departmental resourcing in place to deliver Defra's Farming and Countryside Programme, maintain flood defences, and deliver the government's new strategy to eradicate bovine TB.

- Capital allowances to incentivise investment

The introduction of capital allowances, for both incorporated and unincorporated businesses, to incentivise the investment required in a broad range of climate smart capital investments.

- CGT rates

If CGT (Capital Gains Tax) rates are to be increased or aligned to income tax, they should only be applied to non-business or short-term gains.

- Rural prosperity fund

Confirmation of a further round of the REPF (Rural England Prosperity Fund). The fund is a replacement for EU structural funds such as LEADER and the Growth Programme.

What did Labour's manifesto say on Farming?

"Labour recognises that food security is national security. That is why we will champion British farming whilst protecting the environment.

"We will set a target for half of all food purchased across the public sector to be locally produced or certified to higher environmental standards.

"We will introduce a land-use framework and make environment land management schemes work for farmers and nature.

"And we will work with farmers and scientists on measures to eradicate Bovine TB, protecting livelihoods, so that we can end the ineffective badger cull."

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