NFU Potato Policy Group chair and Horticulture & Potatoes Board vice chair Tim Rooke, explains in a news release how the reforms to BPR and APR announced in the Autumn Budget have sparked concern for British potato growers.
“For the last few weeks there’s been little else on people’s minds beyond the outcomes of the Autumn Budget,” Mr. Rooke says.
“At the forefront are the impacts of changes to APR, as well as the increase of the cost of employment with the changes to National Insurance. With so many potato growers being family farms, we are no less affected than any other sector.
“The aspect that’s really worrying me as a potato grower though is the changes to BPR. Potatoes are a particularly expensive crop to grow and require a significant amount of specialised investment. It’s a crop that requires full commitment, planning, and investment, and not one you can dip in and out of.
“Potato harvesters are about as expensive as farm machinery gets, and that’s before you get to tractors, trailers, destoners, sprayers and spreaders for example.
“In addition, we have to consider our potato stores which are an enormous investment. With these considered, our sector is particularly exposed, and with even quite conservative figures, the payments required to cover the tax bills could easily wipe out any profitability for the years ahead.
“I would urge you to have a look through what the changes to BPR could mean for your farm, and take professional advice if necessary. But I’m afraid you may not like the figures that come out of it.”
Mr. Rooke further says: “Our sector is particularly exposed, and with even quite conservative figures, the payments required to cover the tax bills could easily wipe out any profitability for the years ahead.”
Source: NFU. Read the full news release here
Image: Tim Rooke. Credit NFU
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