- King West Residential Property Estate Agent, East Midlands
22nd January 2019
- Tax Planning Considerations for Farm Diversification
16th December 2018
- King West in London
19th November 2018
- Changes to Minimum Energy Efficiency Standards
19th November 2018
- The Pros and Cons of Option Agreements
22nd October 2018
14 July 2016
‘Brexit means Brexit.’ But what does that actually mean?
Our column this month finds us compelled to reference to the EU Referendum result on 23rd June. With farming having been largely governed and supported via the Common Agricultural Policy for the past 40 years, it is quite obvious that the effects of the “Brexit” result will have far reaching consequences for the industry, with landowners and farmers perhaps facing the most profound changes, even if other sectors of the economy are currently predicting gloom and despondency.
It is likely that farming support will change significantly, and it will be vital that the Westminster government takes the kind of holistic approach to ensuring a strong farming and food industry that characterized the post war decades leading up to the mid 1970’s, when the UK entered the Common Market.
We will be staying abreast of the situation at King West and will ensure that we report in a timely manner any legislative information that emerges.
Whatever new support scheme is introduced, post the Basic Payment Scheme, King West will be able to help. We will continue to communicate clearly and concisely with step-by-step, time-lined plans and implementation timetables. We will be available for support at every stage of the change process.
In terms of the Basic Payment Scheme, the outcome of the EU Referendum vote has no immediate effect on BPS. Current rules, such as those for eligibility, greening and cross compliance, must still be met. BPS in 2017, it is thought, will feel very much like BPS 2016, hopefully with more certain information as to mapping, entitlements, and so on. Looking further than 2017 from today’s standpoint, however, is unfeasible. Trading now gives access to 2017 payments. Further afield, it is a matter of market judgment about the prospect for 2018 and the following years as to whether and how current entitlements may or may not flow into the potential UK-based regimes after withdrawal from the EU.
With a new Prime Minister at the helm of the country, Theresa May has stated that “Brexit means Brexit’ and despite her campaigning on behalf of the IN campaign, Mrs. May will respond to the wishes of the nation and said she would offer “strong, proven leadership to steer us through what will be difficult and uncertain economic and political times”.
She continued, stating that she would “negotiate the best deal for Britain in leaving the EU and forge a new role [for the UK] in the world”.
Back in 1970, prior to the UK’s accession to the Common Market, it was graphically depicted by Lord Denning as ‘like an incoming tide [...] It has broken the dykes and the banks. It has submerged the surrounding land. So much so that we have to lean to become amphibious if we wish to keep our heads above water’.
The reversal of this tide may in some ways be similar to catching the floodwater and pushing it back toward the sea. Only time will tell.
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