Budget ‘anxiety’ for farmers

Budget ‘anxiety’ for farmers

6 November 2024

THE out workings of last week’s budget has created “anxiety and uncertainty” for the farming community across the constituency, according to South Down MP Chris Hazzard.

He said the announcement by Chancellor Rachel Reeves in relation to changes to the inheritance tax threshold for farmers has caused “significant concern” about what it means and that it could make it more difficult to sustain family farms into the next generation which are vital to the future or our agri-food sector and many local rural communities.

Mr Hazzard said the announcement from the British government that there will no longer be a ring-fenced budget for agriculture here is also causing uncertainty with regards to future funding for agriculture. 

“This is in stark contrast with the situation of farmers in the rest of Ireland who continue to receive EU funding,” said the MP.

“It is important Stormont’s Minister for Agriculture ensures family farms in South Down are supported and the continued viability of our agriculture sector is protected.” 

Meanwhile, South Down MLA Cathy Mason has welcomed Sinn Féin’s bill to reinstate ANC payments to support farmers.

“Family farms are the backbone of our agriculture sector and rural economies in the North. The Chancellor’s budget announcement has created anxiety and uncertainty for the farming community in South Down,” she continued.

“Sinn Féin bringing a bill to the Assembly to reinstate ANC payments to support our small family farms. It is important that family farms i are supported and the continued viability of our agriculture sector is protected.”