Farming Offers Huge Return on Investment, Report Reveals

UK - A new report from Development Economics says that for every £1 invested in farm support, farming delivers £7.40 back to the economy, according to the National Farmers Union (NFU).
calendar icon 21 February 2017
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For the first time farming’s contribution to the country has been expressed in monetary value. The NFU President said this will highlight to Government the positive economic, social and environmental impact of the sector just weeks before Article 50 is triggered.

Steve Lucas, Managing Director of Development Economics, said: “This is an important moment in the debate around EU negotiations. For the first time we have calculated the total contribution of agriculture to the UK economy and society. This shows how critical farming is to the country and why the Government must prioritise the sector during Brexit negotiations.”

NFU President Meurig Raymond said: “This report demonstrates well that money invested by government into UK farming is money invested wisely. With the right trade and labour conditions, this sector could deliver an even greater return to the country.

“For centuries farms have been deeply rooted in the rural community, stimulating the wider economy. Today’s report shows farming spends £15.3 billion on goods and services. Businesses providing animal feed, crop seeds and vets, to name a few, all depend on productive and profitable farms for custom.

“The iconic British countryside which farmers manage provides the backdrop for visitors from across the world – this tourism is worth over £21 billion. With farms operating on 70 per cent of British land, we must ensure these farms are viable businesses in order to carry on delivering this.

“To increase the vital contribution farming makes to the economic, social and environmental well-being of the UK, Government must ensure we have the best possible trade deals, access to a competent and reliable workforce and farm support that is fit for purpose.”

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