'We need more than warm words': Farmers plead for Westminster to end tax stress as new budget to be unveiled tomorrow
Farmers are pleading for relief from money stress in tomorrow’s budget, representatives travelling to Westminster to call on the government to heed cries from Northern Ireland’s agricultural industry.
Members of the Ulster Farmers’ Union are over in London for the autumn round of new tax measures from chancellor of the exchequer John Healey.
They’re pointing to the results of a recent survey that showed rising production costs, uncertainty over recent changes to inheritance tax, mounting employment pressures and declining investment confidence are placing increasing strain on farm businesses across the province.
Union high-ups want to see measures brought in that will address these pressures and support the future viability of the industry.
Said union president John McLenaghan: “Tomorrow’s budget is an important opportunity for the government to demonstrate that it understands the pressures facing farming families and is prepared to take meaningful action.
“We have spent months making the case for agriculture, engaging with ministers and parliamentarians, and presenting the evidence of what is happening on farms across Northern Ireland.
“Our message has been consistent – farming needs more than warm words, it needs a joined-up package of measures that restores confidence, supports investment and allows businesses to plan for the future.”
A recent survey carried out by the industry body showed that almost three-quarters of those who replied said the increasing costs of feed, fuel and fertiliser have made it difficult to invest in the future of their businesses.
Changes to the inheritance tax system remains a concern, after new rules were brought in this year that ended relief on farms with land and buildings worth more than a combined £2.5m.
The survey showed that 88.6% of respondents reported increased family stress or worry because of the changes, while more than seven in 10 said their confidence in passing on a financially viable farm had been reduced.
The union has called for the system to be reworked to take into account the difference between the amount land may be worth as a property and the income a farm can realistically generate.
“These pressures do not exist in isolation,” stated Mr McLenaghan. “Every additional cost, every delayed investment and every new uncertainty has a cumulative impact on the ability of a farming business to remain competitive and financially sustainable.
“The government cannot consider inheritance tax, fuel duty, employment costs or capital investment in isolation. It must recognise the combined pressures that farming families are facing and respond with a package of measures that reflects the realities of running a modern agricultural business.”
Revealing that the union had put together “a clear set of proposals” for the chancellor that amount to “practical measures” that will boost farmers’ finances in both the short and long term, he said: “The decisions taken tomorrow will influence much more than the immediate finances of individual farms, they will help shape the future of our food supply.
“Backing farming is not simply about supporting individual businesses. It is about protecting our capacity to produce food, supporting rural jobs and economic activity, and ensuring there is a viable industry for the next generation.
“Tomorrow is an opportunity to deliver a budget to back farming, restore confidence and demonstrate that Northern Ireland agriculture has a secure place in the Government’s economic plans.”