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      National Arable & Grassland Awards 2023 Supplement

      By adminJanuary 26, 2023
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    Environmental Land Management Scheme/Policy

    NFU gives response to the Budget

    Matthew TiltBy Matthew TiltMarch 3, 20212 Mins Read
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    a_new_dawn_for_british_farming

    In a response to the Budget delivered by the chancellor today, NFU president Minette Batters said: “The support offered to businesses by the government throughout the pandemic has been incredibly important in keeping many viable over the past year.

    “In the longer-term, farm businesses can play a key role in the investment-led recovery that the Chancellor has set out today. With an ambition to reach net zero by 2040, British farming can be a pivotal part of meeting our climate ambitions and increasing productivity.

    minette_batters
    NFU president Minette Batters. Credit: NFU

    “Farm businesses, and their diversified enterprises, will welcome the Chancellor’s decision to extend the reduced rate of VAT for retail, hospitality and leisure, extend business rates relief, offer further grants for the self-employed, introduce a new recovery loan scheme and make restart grants available for tourism and hospitality businesses. These are all measures that will support rural businesses to recover from the impact of Covid-19.

    “The announcement of the UK Infrastructure Bank to finance green investment could be a crucial tool in stimulating investment and driving green economic growth. The launch of the Levelling Up Fund could also be positive for rural areas in narrowing the growing divide between rural and urban. We look forward to receiving more detail on how this may work in practice.

    “However, we are disappointed that the ‘super deduction on machinery investment is only applicable to limited companies and not available to all businesses, especially when significant investment in new farm technology is required.

    “With all of these announcements, it’s incredibly important that the needs of rural businesses are accommodated and that they are able to access appropriate funding. Our new ‘Levelling up rural Britain’ report highlights how investment in British farming and rural Britain can bring huge benefits to sustainable food production, but also the entire nation; delivering jobs, green growth, exports and wellbeing for the entire nation. It’s vital it is embraced by the Treasury and the government.”

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    Matthew Tilt
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    Machinery editor for Farm Contractor & Large Scale Farmer. Matt has worked as an agricultural machinery journalist for five years, following time spent in his family’s Worcestershire contracting business. When he’s not driving or writing about the latest farm equipment, he can be found in his local cinema, or with his headphones in, reading a good book.

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