26 Apr 2019
Farm diversification proving a popular investment choice
A survey of Savills consultants has found that farmers are holding back on investment in farm infrastructure and delaying taking part in agri-environment schemes until there is greater clarity on post-Brexit farm support.
The survey looked at the impact of the planned transition from direct payments to a support system based on “public money for public goods” and found that farmers were instead focusing on farm diversification.
Renewable energy, building conversion and “other” diversifications were seen by the consultants and surveyors as the most popular areas farmers were most likely to be investing in during the so-called “transition” period, where BPS (Basic Payment Scheme) and other environmental schemes are the be phased out.
However, the consultants have predicted that there will be a reduced level of investment in farm infrastructure and machinery, but those who choose to spend on their core business are likely to focus on farm buildings, precision technology, machinery and drainage.
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