What does the Autumn Statement mean for farmers?

growth, money, budget, grass, farm business

We’ve looked in more depth at yesterday’s Autumn Statement and Spending Review announcements and picked out the detail that matters most to farmers.

NFU members can read our guide to what George Osborne called a “big spending review that does big things” here (you’ll need to log-in).

 

What were yesterday’s announcements all about?

The government sets out a Spending Review every five years to announce how it intends to spend taxpayers’ money during the course of the Parliament. Within the Spending Review, the government decides budgets for each department, called departmental settlements. The Defra department settlement is available here. In addition, twice a year the government updates its plans for the economy through ‘the Budget’ and ‘the Autumn Statement’. This year the Spending Review and Autumn Statement coincided, with the Chancellor making a statement to the House of Commons on 25th November.

All the relevant documents are available here.