Young farmers fearful of Chancellor's Budget, says NFYFC

The National Federation of Young Farmers' 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.'

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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.'

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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 Farmers' Clubs and rural communities, often in isolated areas where youth services are scarce or non-existent."

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