The National Farmers’ Union (NFU) has written to Chancellor Rachel Reeves ahead of the upcoming Spring Forecast, calling for measures that deliver long-term investment in British producers.
The letter outlined several practical measures that NFU said are required to increase investment and productivity in the farming sector, including an effective use of tax reliefs, a push for greater energy resilience and a stable policy framework to encourage investor confidence and boost economic growth.
NFU president Tom Bradshaw said: “While we have seen some common sense prevail on inheritance tax, the wider industry is still operating on razor-thin margins and with a lack of certainty which is stopping investment.
“British farming underpins the nation’s largest manufacturing sector, food and drink, which is worth £153 billion to the UK economy. To build on this and to continue to drive economic growth, we have set out our priorities clearly to the Chancellor.
“A solid policy environment will help mark a shift towards a more resilient, thriving and profitable farming industry.”
Tom Bradshaw, NFU
Bradshaw continued: “An effective use of tax reliefs, a push for greater energy resilience and a solid policy environment will help mark a shift towards a more resilient, thriving and profitable farming industry and importantly, encourage the investment required to feed the nation’s 70 million people.
“These actions Government could take are critical to creating a positive climate where farmers and growers have the confidence to invest for the long-term and build resilience, so they are able to absorb shocks better.”
