NFU President Meurig Raymond has today met with the Bank of England and the British Bankers Association to talk about the financial future for farming post-Brexit.
Raymond discussed the challenges and opportunities presented by Brexit, and the determination of the farming industry to succeed when we leave the EU. Michael Saunders, Member of the Bank of England’s Monetary Policy Committee, also gave his view of the state of the economy.
Raymond said: “Today’s meeting was held at an opportune time to discuss the farming sector’s aspirations post-Brexit with major players in the banking industry, and emphasise the important part that they play in securing a profitable future for farming.
“Farming businesses will be operating in a new political framework with policy-making returning to the UK Government. It’s important that banks understand that what farming requires, and what the country needs, is a profitable, productive and progressive sector as we leave the EU. The need for farming businesses to invest has never been greater.
“We were delighted that Michael Saunders from the Bank of England was here today and it was reassuring to see the Bank is keen to better understand the farming industry. We emphasised the role that food and farming can play in helping to grow the UK economy.
“Farming will continue to be a vibrant and dynamic industry, one that grabs innovation with both hands. It is important that Government and the banks recognise the importance of investment and that farming can look forward to continued financial support for such a vital sector in the future.”