Charity Yorkshire Agricultural Society reviews its support for farmers after study reveals business confidence has plummeted

It follows an NFU survey in March, which found farm business confidence had reached the lowest level since the body started monitoring polls 15 years ago.

The NFU survey took place ahead of Defra’s sudden announcement to close the SFI scheme to new applicants, but following announcements over inheritance tax, an increase in employer National Insurance contributions, and the acceleration of the Direct Payments phaseout.

The NFU said its research also showed that, for the first time, investment across the board was drying up with farmers unable to make investments in key areas such as machinery, infrastructure and energy efficiency, creating a significant barrier to growth.

The society’s study found the most cited challenges for farm businesses included increasing costs, profitability, tax changes, succession, unsupportive policies and declining support payments.

The survey concluded only 30 per cent of farmers were confident about their businesses’ financial outlook for the next 12 months, and 24 per cent said their farm business was in a better financial position than it was a year ago. Some 30 per cent rated their wellbeing as ‘not good’ or ‘poor’, and 36 per cent said their wellbeing was worse than it was 12 months ago.

The society found while there is still work to do to tackle the mental health taboo, some 72 per cent of farmers said they would be confident seeking support if their wellbeing was not good.

Among the most commonly stated biggest opportunities for farm enterprises were strong beef and lamb prices, renewable energy, diversification, input of the next generation and direct selling.

Allister Nixon, the society’s chief executive, said: “The findings of our survey clearly show that it is vital that the Yorkshire Agricultural Society continues to develop its programme of support to ensure it remains relevant and impactful during these times. It is clear from the survey the society has an important role to play in helping farmers to navigate uncertainty, see opportunities, foster community spirit, provide networks that connect those working in the industry and encourage the next generation.

“We should be proud of our British farmers and the quality of their produce. We want farming to thrive and so as we review our year-round programme of activities, we will be using this feedback to guide the support that we offer. The society is busy organising events and activities for farmers, as well as organising and hosting the 166th Great Yorkshire Show in July.

"Every year we invite government ministers and MPs to the Show to hear first-hand from farmers. The response to our survey suggests there has never been a more opportune time to listen to our farmers.”