A third of British farms are struggling to stay afloat, with many making little to no profit from their labor. The McCain Foods report reveals that only 14% of surveyed farmers managed to achieve a 10% or higher return on investment in the past year, leaving 35% at an even break-even point. This bleak financial picture is further compounded by the UK's post-Brexit farming reforms, which have seen subsidies drastically cut.
Prior to Brexit, EU funding made up nearly half of farmers' annual income. However, following the UK's departure from the bloc, these payments have been replaced with a new scheme designed to support environmental land management. This plan has been plagued by delays and inconsistencies, leaving many farmers feeling shortchanged.
The government's decision to introduce inheritance tax on farms worth over Β£1m has also caused widespread concern among farming communities. The prospect of young farmers being unable to inherit their family lands has sparked outrage and protests.
Farms are facing not only financial struggles but also the very real threat of climate change. In recent years, the UK has experienced extreme weather events such as floods and droughts, resulting in some of the worst harvests on record.
The McCain report highlights the toll that farming is taking on farmers' mental health, with over 61% stating that their work negatively affects their well-being and nearly a third working an average of 70 hours per week during peak seasons. The strain is also clear in the report's finding that 51% of farmers have considered leaving the industry due to financial pressures.
As one industry expert noted, "the findings must serve as a wake-up call" for policymakers, businesses, and industry bodies to work together to support British farmers.
Prior to Brexit, EU funding made up nearly half of farmers' annual income. However, following the UK's departure from the bloc, these payments have been replaced with a new scheme designed to support environmental land management. This plan has been plagued by delays and inconsistencies, leaving many farmers feeling shortchanged.
The government's decision to introduce inheritance tax on farms worth over Β£1m has also caused widespread concern among farming communities. The prospect of young farmers being unable to inherit their family lands has sparked outrage and protests.
Farms are facing not only financial struggles but also the very real threat of climate change. In recent years, the UK has experienced extreme weather events such as floods and droughts, resulting in some of the worst harvests on record.
The McCain report highlights the toll that farming is taking on farmers' mental health, with over 61% stating that their work negatively affects their well-being and nearly a third working an average of 70 hours per week during peak seasons. The strain is also clear in the report's finding that 51% of farmers have considered leaving the industry due to financial pressures.
As one industry expert noted, "the findings must serve as a wake-up call" for policymakers, businesses, and industry bodies to work together to support British farmers.