Labour plants seeds of unease

Article Abstract:

Investment in UK agricultural land has been increasingly popular due to growing profits, the availability of tax relief and crop subsidies. The value of agricultural land rose by 115% between 1992-1997. Some investors feared that the Labour Government would introduce new taxes on agricultural land and sold their interest in farmland before the budget. Their fears where not realised in the 1997 budget but the value of agriculture land may be affected by the Apr 1998 budget. Land prices may also be reduced by a decision by the European Commission to cut some subsidies on arable corps.

Investments, Agricultural policy, Capital productivity

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Tenant farmers snap up FBTs

Article Abstract:

The Central Association of Agricultural Valuers 1997 study of tenanted farms found less farms were being let than bought compared to figures for 1996. Farm land with buildings is let for an average of 10 years. Land for grazing is let for around two years two months compared to previous average figures of 12 months or less. There was a net gain of land for tenanted farmers of 30,000 acres. Some 69,000 acres was let on a farm business tenancy (FBT), with each new FBT, on average, 93 acres. The study included around 1% of agricultural land in Wales and England.

Industry Overview, Public opinion, Valuation

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Rents feel pressure from tenant power

Article Abstract:

Increases in farm rents are still being agreed in the UK, even though rent rises on farms with 1986 Agricultural Holdings Act tenancies are slowing down. There are indications that farm tenants facing a rent review are attempting to gain a deferral. Faced with this situation, landlords must decide whether to defer or to apply for an arbiter to settle negotiations. Members of the Tenant Farmers Association are being encouraged to stand firm against the unrealistic expectations of landlords' agents.

Finance, Farm tenancy, Tenant farming

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