POST-BREXIT FARM SUBSIDIES: WHAT TO EXPECT
The uncertainty brought upon by Brexit and the subsequent subsidy loss that will follow once Britain stops forming part of the EU's Common Agricultural Policy (CAP) is a big concern for British farmers. The Secretary of State for Environment, Food and Rural Affairs, Michael Gove, is hoping to establish a fairer system that rewards public contributions, with aim of “(using) public money for public use”.
Gove has revealed that farmers will be guaranteed their current subsidies until at least the 2022 election, in some cases continuing on as far as 2024 pending on a special circumstance consultation.
Nevertheless, although this announcement may have come as a relief for British farmers relying on subsidies, the reality is that with changes coming in the horizon it is now time to start preparing for the changes ahead.
Any upcoming loss of income caused by the revised subsidy framework post-Brexit must be taken into account, meaning farmers need to have an economically sustainable replacement in place by 2022 to be able to ensure that their farm remains profitable following Gove’s changes.
With the kind of uncertainty brought upon British farmers in the recent months due to these impending changes in agricultural policy, farm diversification becomes one of the best avenues for ensuring businesses in rural England stay afloat once the currently relied upon CAP subsidies come to an end.
In order to address this, Farm Business Innovation will be returning to the Birmingham NEC on the 7th & 8th of November in order to prepare farmers and landowners for the future of rural Britain by helping them diversify their business. Register for free tickets to attend here.