The dairy sector has come together to support the NFU鈥檚 calls for a pause to the implementation of the government鈥檚 proposed changes to IHT (inheritance tax), and a consultation with industry.
The strength of feeling among the sector was showcased on the NFU's stand at Dairy-Tech today, with visitors signing our pledge to Stop the Family Farm Tax.
Far-reaching consequences
NFU Dairy Board chair Paul Tompkins said: 鈥淭his is a clear message from the UK dairy sector that the government must take-action and work with industry to reduce the impact of this ill-advised policy.
鈥淒airy producers are already under extreme pressure from years of volatility, the impact of a changing climate, increased regulatory demands and the need to continuously invest in their businesses.
鈥淭his policy has far-reaching consequences across the whole industry and has already had a significant impact on producer confidence.鈥�
21 processors sign letter the Treasury
In a powerful moment of unification, more than 20 dairy processors have joined a coalition of co-signatories in a letter led by the NFU to Treasury highlighting the risk of scrapping APR and BPR (Agricultural Property Relief and Business Property Relief).
Speaking at Dairy-Tech, NFU President Tom Bradshaw said: 鈥淚t鈥檚 fantastic to see the dairy sector coming together and supporting our Stop the Family Farm Tax campaign.
鈥淢ore than 20 dairy processors, with a combined turnover of over 拢7 billion, have joined 57 other businesses from across the food supply chain as co-signatories of a letter that has been sent to the Treasury highlighting the risk scrapping APR (Agricultural Property Relief) and BPR (Business Property Relief) poses to the long-term resilience of the sector.
Futureproofing sustainable production
鈥淭he letter demonstrates the economic importance of the UK food supply chain and the threat these changes pose to the long-term stability of the nation鈥檚 food resilience.
鈥淭his is a clear message from the UK dairy sector that the government must take-action and work with industry to reduce the impact of this ill-advised policy.鈥�
NFU Dairy Board chair Paul Tompkins
鈥淭he dairy sector in particular relies heavily on continued investment to futureproof farming businesses and enable the production of sustainable dairy products.鈥�
Paul went on to say: 鈥淲e urge the Chancellor to heed the concerns set out in the letter, and the analysis undertaken by the likes of AHDB and the Office for Budget Responsibility, and work with us to find resolutions so the objectives of all sides can be met.鈥�
The UK dairy sector producers affordable, accessible, nutrient-rich products to some of the highest standards in the world, while GHG emissions from UK milk are less than half the global average.
It is vital that government policy works alongside the sector to help drive productivity and growth, while supporting the industry to meet societal and regulatory demands.
