Welsh farmers warn of financial pressures ahead of budget
The Farmers’ Union of Wales says rising costs, inheritance tax and future changes to fertiliser prices are putting added pressure on farming families ahead of the UK Budget.
Welsh farmers are calling for more protection from the UK Government as they face a series of financial pressures ahead of the upcoming Budget.
The Farmers’ Union of Wales has been meeting Plaid Cymru MP Ann Davies in Westminster to set out the concerns facing farming families across Wales.
Inheritance tax was high on the agenda, with the union calling for agricultural and business assets to remain fully protected from inheritance tax when farms are passed on to the next generation.
The FUW also wants tax incentives for landlords who offer longer-term tenancies to young and new farmers, saying that could help bring a new generation into the industry.
It is also calling for a dedicated UK emergency fund to help farmers deal with unexpected crises, including outbreaks of disease, wildfires and shortages of animal feed.
The union says farmers are increasingly vulnerable to sudden financial shocks and need support when those situations arise.
The FUW also raised concerns about changes to the cost of imported fertiliser, with the Carbon Border Adjustment Mechanism due to come into force from January 2027.
It is questioning what impact the additional costs could have on food production and whether the UK Government has assessed the consequences for farmers and consumers.
The meeting comes as the Government prepares for its upcoming Budget, with the FUW urging ministers to take the financial pressures facing Welsh farming seriously.