The NFU is calling on the Chancellor to use the upcoming Budget to cut the cost of food production and encourage investment in British farming, warning that farm businesses are being hit by rising costs, disease, drought and geopolitical uncertainty.
For poultry producers, the NFU is seeking measures including protection from the impact of the Carbon Border Adjustment Mechanism (CBAM) putting domestic food producers at a disadvantage to imports.
Its five Budget priorities also include increasing the Annual Investment Allowance to at least £5 million, temporary interest-free Keep Britain Growing Loans for businesses affected by this summer’s challenges, reversing changes to Agricultural Property Relief and Business Property Relief, and enhanced capital allowances for low-carbon technology and infrastructure.
NFU president Tom Bradshaw said the Budget must be “relentlessly focused” on reducing the cost of producing food in Britain.
“For farmers and growers, this year has been bleak. Rising production costs due to global conflicts, the worst drought in 50 years and the largest ever bluetongue outbreak have pushed many farm businesses to the brink,” he said.
“No sector has been left unscathed, confidence is low and investment has suffered.”
The NFU said its proposals would be central to its engagement with ministers and policymakers at the Labour Party Conference.
It warned that strengthening the resilience of farm businesses was an investment in national resilience and food security.