Thursday, November 23, 2017

NFU 'disappointed' with Budget

The NFU is 'disappointed' with the Budget which it saw as offering little to help farmers to prepare for life outside the EU or to help rural communities more generally: Budget response

The NFU should not be that surprised at the urban focus of the budget. The more general question that arises is whether tax reliefs are a better policy instrument than direct support payments.

If we gave farmers more tax allowances, it would not alter their behaviour in any way in accordance with policy objectives, but it would give them an additional financial cushion against the effects of Brexit.

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