Empowering the Future: NFU Urges Chancellor for Agricultural Investment
Ahead of the Autumn Statement, the National Farmers’ Union (NFU) stands firm in its demand for the prioritization of farming in the Treasury’s agenda, advocating for vital support to fortify the UK’s food production for future sustainability.
NFU President Minette Batters, in a comprehensive letter addressed to the Chancellor of the Exchequer on November 22, emphatically asserted the critical need to rebuild confidence and stability within the UK’s food and farming sector.
Highlighting the pivotal opportunity presented by the Autumn Statement, Batters stressed the imperative of promoting British produce in domestic and international markets.
Additionally, she underscored the potential for reducing food inflation while simultaneously fostering green economic growth.
Central to the NFU’s stance is a series of pressing ‘asks’ directed at the Treasury, aimed at bolstering the support extended to food producers.
These encompass a wide spectrum of concerns, ranging from the review of long-term energy contracts to the imperative need for clarity regarding Agricultural Property Relief.
Moreover, the NFU advocates the establishment of a cross-government task force to ensure robust regulation and suitability of emerging environmental markets in the UK.
Furthermore, the call for bolstering environmentally friendly farming practices through the expansion of income streams to facilitate the Slurry Infrastructure Grant remains a cornerstone of their demands.
Batters stressed the pivotal role of investment in securing the future success of the agricultural sector. She illuminated the dire economic challenges faced by farmers, citing soaring farm input costs, escalating interest rates, and a projected 50% reduction in current direct payments by 2023.
These circumstances underscore the urgency for adequate funding directed towards essential capital investments necessary for the sector’s growth and sustainability.
Batters iterated the sector’s commitment to enhancing sustainable food production and environmental stewardship but highlighted the indispensable link between profitability and achieving these overarching goals.
The NFU’s plea to the Chancellor resonates with a call for injecting much-needed stability and confidence into the UK’s food and farming landscape.
Beyond providing immediate certainty, the proposed ‘asks’ serve as a foundational framework to establish a long-term farming strategy.
This strategy, inclusive of both public and private finance, aims to address the country’s environmental imperatives and fortify its food security needs.
The Autumn Statement emerges as a critical juncture where the Chancellor holds the potential to significantly impact the trajectory of the UK’s food and farming sector.
The NFU’s propositions are not just aimed at short-term resolutions but are envisioned as building blocks for a robust, sustainable, and adaptive farming framework that aligns with the nation’s environmental and food security requisites.
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