²ÝÁñÉçÇø

Young farmers fearful of Chancellor's Budget, says NFYFC

NFYFC's YFC agri chair Luke Cox said the proposed tax and wage changes 'threaten the continuity and viability of farm farms and rural diversification businesses'

clock • 1 min read
Young farmers fearful of Chancellor's Budget, says NFYFC

The National Federation of Young ²ÝÁñÉçÇø' Clubs (NFYFC) said the next generation of farmers have shared 'serious concerns' about an 'uncertain future' ahead of them following the Chancellor's Budget announcements.

Young farmers 

NFYFC's YFC agri chair Luke Cox said the proposed tax and wage changes 'threaten the continuity and viability of farm farms and rural diversification businesses'. 

He warned it would 'jeopardise the prospects for a 'much-needed future generation in agriculture.'

READ NOW: Autumn Budget 2024: What do farmers need to think about?

Mr Cox said: "The next generation already faces significant challenges in accessing land and finance and the Budget has only browbeaten us further. Changes to Agricultural Property Relief (APR) will only result in more farming land being sold off and further limit farmers' ability to borrow and invest in the future.

Farming 

"The call for the Minister to meet and discuss issues facing the next generation of farmers—both those currently in the industry and those aspiring to join—is more urgent than ever."

NFYFC said announcements in the Budget about the increase for employer's National Insurance contributions (NIC) and changes to the NIC threshold would impact them and its '46 county federations.'

READ NOW: Autumn Budget: 'Ill thought-out' APR changes will lead to lasting damage, warns NFU Cymru

National Insurance 

NFYFC chief officer James Eckley said: "The increase to NIC will be felt by YFC County Federations that, like many charities, are already struggling with increasing costs and reduced funding for rural services. Many charities operate on shoestring budgets, and the impact of this additional expense will be felt by them. Difficult budget choices will be necessary in the coming year.

"Our county teams offer vital support to Young ²ÝÁñÉçÇø' Clubs and rural communities, often in isolated areas where youth services are scarce or non-existent."

LISTEN NOW: 

Unused BEDNAR Terraland TN 3000

£±Ê°¿´¡

PFC Agr Solutions - Cultivators Tarpaulins

£±Ê°¿´¡

2013 COUSINS CAMBRIDGE ROLLS

£±Ê°¿´¡

More on Politics

From the editor: "Lack of understanding not only threatens the viability of family businesses, but also the Government's own ambitions on health and the environment"

From the editor: "Lack of understanding not only threatens the viability of family businesses, but also the Government's own ambitions on health and the environment"

This week from ²ÝÁñÉçÇø Guardian editor Olivia Midgley

clock 07 November 2024 • 2 min read
Family farm tax and Wales' agricultural budget dominates NFU Cymru conference

Family farm tax and Wales' agricultural budget dominates NFU Cymru conference

NFU Cymru president Aled Jones said 'around £340 million should be forthcoming from the Treasury block grant to Welsh Government for agricultural support'

clock 07 November 2024 • 2 min read
Parliament to face 1,800 NFU members as union takes Budget lobby to London

Parliament to face 1,800 NFU members as union takes Budget lobby to London

The mass lobby on November 19 is now at full capacity. ²ÝÁñÉçÇø who have not already registered for the event are warned not to travel down to London and told there will be another opportunity to make their voices heard

clock 07 November 2024 • 2 min read