The government’s guarantee to replace EU funding for farmers is crucial at a time when commodity prices are under severe pressure, according to a leading agricultural lawyer.
Chancellor Philip Hammond has vowed that funding for agriculture will continue until 2020, as part of a wider commitment to back EU-funded projects. Farmers currently receive subsidies and payments under the EU's Common Agricultural Policy (CAP).
Andrew Fearn, chairman of York and Lincoln-based Langleys Solicitors, said: “This is fantastic news for the agricultural sector. The uncertainty of the post-Brexit period has been a worrying time for the farming community.
“The Chancellor’s announcement is a welcome relief to farmers and helps them to prepare with more certainty for our exit from Europe. It is difficult to overstate the importance of the news as the industry continues to struggle in the face of poor commodity prices. A good harvest will be the icing on the cake.”
Andrew has a wealth of experience in advising farmers and landowners and specialises in agricultural property issues.
The Chancellor said the government will fund Basic Payments under CAP Pillar 1 until the end of 2020. He made the commitment following calls from organisations including the Country Land and Business Association (CLA).
Andrea Leadsom MP, Secretary of State for the Environment, Food and Rural Affairs, said the decision will “provide crucial certainty and continuity to our rural communities while we develop a new approach to supporting agriculture and protecting our precious countryside.”