Farmers are “bewildered and frightened” with many questioning the future of their businesses because of the government’s proposed changes to inheritance tax, an independent review of farm profitability has found.The long-awaited government-commissioned report was published on Thursday with 57 recommendations designed to improve productivity, investment and resilience in agriculture.But author Baroness Minette Batters, former president of the National Farmers’ Union (NFU), warned there was “no silver bullet” to making farms in England profitable.Environment secretary Emma Reynolds said the government and the farming and food industries would work much more closely together in the future.That would be done through a newly created farming and food partnership board made up of senior industry and government leaders that would “drive growth, productivity and long-term profitability across the sector”, she explained.”When farming thrives, the whole country benefits. British farmers are central to our food security, our rural economy and the stewardship of our countryside,” the secretary of state added.”This is about serious action to remove barriers, unlock investment and make the food system work better, so farm businesses can grow, invest and plan for the future with confidence.”Baroness Batters’ review called for a “new deal for profitable farming” that would recognise the true cost of producing food and delivering for the environment.The report did not look in detail at the government’s proposed changes to inheritance tax, which are set to apply to farm businesses worth more than £1 million at a rate …
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[mwai_chat context=”Let’s have a discussion about this article:nnFarmers are “bewildered and frightened” with many questioning the future of their businesses because of the government’s proposed changes to inheritance tax, an independent review of farm profitability has found.The long-awaited government-commissioned report was published on Thursday with 57 recommendations designed to improve productivity, investment and resilience in agriculture.But author Baroness Minette Batters, former president of the National Farmers’ Union (NFU), warned there was “no silver bullet” to making farms in England profitable.Environment secretary Emma Reynolds said the government and the farming and food industries would work much more closely together in the future.That would be done through a newly created farming and food partnership board made up of senior industry and government leaders that would “drive growth, productivity and long-term profitability across the sector”, she explained.”When farming thrives, the whole country benefits. British farmers are central to our food security, our rural economy and the stewardship of our countryside,” the secretary of state added.”This is about serious action to remove barriers, unlock investment and make the food system work better, so farm businesses can grow, invest and plan for the future with confidence.”Baroness Batters’ review called for a “new deal for profitable farming” that would recognise the true cost of producing food and delivering for the environment.The report did not look in detail at the government’s proposed changes to inheritance tax, which are set to apply to farm businesses worth more than £1 million at a rate …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
