Agribusiness News December 2024

Welcome to the December edition of Agribusiness News.  If you prefer to download this document click the download button.

N e w s  i n  b r i e f

Uncertain times ahead

With 2024 drawing to a close, the ramifications of the UK Budget are expected to be long reaching for the farming community with the changes to Employer’s National Insurance Contributions and Inheritance Tax. While it is likely that commercial companies will seek to pass on their additional costs to customers, farmers and crofters generally do not have that option as only a small proportion sell direct to the consumer.  With the inflation rate sitting at 0.3% above the Government target of 2%, and predictions it could rise to 3% next year; hopes for a further cut in the Bank base rate this year are fading fast.

With changes in Inheritance Tax taking effect from April 2026, farmers are advised to seek advice from their accountant and solicitor with regards succession planning to help minimise any tax liabilities.

As we very much live in a global economy, our sector focus article this month looks at how might a Trump presidency influence domestic, European and global agriculture.  Closer to home, our second sector focus article is looking at Enhancing Livestock Health through Dynamic Health Planning, and our Input article looks at the cost of extended calving periods.

In the run up to the festive season our Management Matters article looks at where we are at with carbon markets, and our sheep article is talking turkey!

Next month:

• Annual Review
• Global Roundup

This month's editor: Christine Beaton