The new government’s first budget will be announced on 30 October and questions are already being asked about how the Labour administration plans to fill the “£22 billion black hole” Sir Keir Starmer has quoted as 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.
Only today, the government revealed a £358 million underspend of the agriculture budget for the past three years. This is “unacceptable” and a “kick in the teeth” for farmers and growers, the NFU has said.
In opposition the government consistently made clear its commitment to agriculture as a key driver of growth. The Prime Minister, speaking at the NFU Conference last year, pledged that Labour “aspires to govern for every corner of our country, and that seeks will seek a new relationship with the countryside and farming communities on this basis, a relationship based on respect and on genuine partnership”.
Hold the government to account on this promise and use our tool to write to your MP today.
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 Statement?
The Autumn Statement usually takes place in October and November and is delivered by the Chancellor.
Sometimes, the Spring Budget is the main fiscal event of the year where significant tax and spending changes are usually included. However, changes to these can be announced in the Autumn Statement too.
This year's statement will be the first for the new government following the general election and will be their chance to take forward some of their manifesto pledges.
