In the run up to the Autumn Budget questions were already being asked about how the Labour administration plans to fill the “£22 billion black hole”, which Sir Keir Starmer quoted was left over from the previous government.
This Autumn Budget will be like no other, with huge pressure on departmental budgets as the Chancellor seeks savings across government.
The agriculture budget is as much in the firing line as any other, and we need MPs to understand just how important it is not only for food security, but for the environment and economic growth.
Speaking on the ninth, annual Back British Farming Day, NFU President Tom Bradshaw said: “While in opposition we heard consistently from Labour that food security is national security. The Prime Minister, speaking at NFU Conference last year, pledged that Labour ‘aspires to govern for every corner of our country, and will seek a new relationship with the countryside and farming communities on this basis, a relationship based on respect and on genuine partnership’.
“We now need to see those ambitions realised. Today we’re calling on government to truly value UK food security by delivering a renewed and enhanced multi-annual agriculture budget of £5.6 billion on the 30 October.
“This budget is essential in giving Britain’s farmers and growers the confidence they desperately need to invest for the future and deliver on our joint ambitions on producing more sustainable, affordable homegrown food while creating more jobs and delivering for nature, energy security and climate-friendly farming.”
Budget breakdown
Independent work from the Andersons Centre commissioned by the NFU has suggested an annual budget in England of around £4 billion is needed:
- around £2.7 billion to meet the government’s environmental goals
- £615 million for driving productivity
- £720 million to support the economic stability of agricultural businesses
Respecting the nature of devolved government, we estimate this would translate to a UK-wide budget of around £5.6 billion.
This will allow a fair transition away from the old EU system, to one that delivers public good for public funds, gives farmers the confidence to invest, and makes the government’s aims around sustainable food production, food security, the environment and net zero possible.
What is the Autumn Budget?
The Budget is a statement made by the Chancellor to MPs in the House of Commons, presenting the government’s plans for the economy, including changes to taxation and spending.
The UK government's Budget is one of the most important events in the country's economic calendar which takes place annually and usually, in the autumn. This year the date is set for 30 October and is particularly significant as it will be the first for the new Labour government and their chance to set out their financial priorities for the next parliament.
The Budget has several key purposes including, managing public finances, ensuring economic stability and long-term financial sustainability as well as to provide accountability and transparency of the Government.
After the Budget statement, MPs may be asked to approve immediate changes to some taxes. There is then a debate in the Commons, normally lasting four days.
