Six-point plan to secure the future of Welsh farming
The nights have closed in and the temperature has dropped considerably. Winter has definitely arrived.
The crisp mornings make milking pretty chilly but putting on an extra layer is certainly better than being soaked through by breakfast.
Tomorrow the Chancellor Philip Hammond makes his Budget statement. Earlier this autumn we wrote as a union to the Chancellor to highlight the importance of British farming and the fiscal measures required to help us achieve a productive, progressive and profitable future for our industry.
The letter also sets out a number of key fiscal recommendations for a stable and certain fiscal environment which encourages innovation and investment in farm businesses.
British farming meets 61% of the nation’s food needs and forms the bedrock of the UK food and drink sector, which contributes £109bn to the nation’s economy and provides 3.8 million jobs.
It is important that Mr Hammond is aware of farming’s significant economic contribution. This is on top of caring for our iconic countryside and putting safe, affordable food produced to the highest standards on tables across the country.
In this Budget, the Chancellor has the chance to help secure a bold, ambitious future for British farming, and in our letter we made the case for a number of measures to prepare our sector for life outside the EU.
Our submission to the Chancellor contained six propositions:
A Farm Infrastructure Allowance to provide relief for the depreciation cost of farm infrastructure over its useful economic lifespan.
An exemption for agricultural buildings from any new system of Community Infrastructure Levy or Local Infrastructure Tariff contributions to avoid a further decline of farm investment.
An improved capital allowances regime to encourage the adoption of a wider range of new technologies as a means of improving productivity.
Ensuring the roll-out of superfast broadband alongside complete mobile phone coverage to help farm more efficiently and fully utilise emerging digital technology such as robotics and GPS.
A UK farm management deposit scheme to give farms the ability to better manage the impact of volatility on profits and their cash flow and enable them to maintain more consistent investment levels.
A review of trading loss restrictions to help farmers invest in restructuring their businesses.
On the subject of lobbying, I visited London recently and, along with NFU Cymru colleagues, hosted a cross-party meeting and dinner for MPs at the House of Commons, kindly sponsored by David Jones MP.
This event gave the team the chance to brief Welsh MPs on our key policy asks and debate the issues of the day, with Brexit being the main topic.
One of NFU Cymru’s unique selling points is our dedicated office in the heart of Westminster. Our presence in London allows us to ensure Welsh farming’s voice is heard loud and clear, and is a fantastic illustration of our ongoing political engagement.