A new scheme by the Government will pay the older generation of farmers to retire. The scheme hopes to allow the younger, greener generation to take over.
The new movement is an ongoing project to help farmers nearing retirement age. Environment Secretary George Eustice believes that the newer generation will be more open to a greener way of farming.
The average farmer is eligible for a lump sum of up to £100,000 with many of them receiving £50,000. Currently, farmers receive approximately £21,000 in grants. The owners of larger lands, those similar to the Queens land, can get up to half a million.
Nearly half of all UK farmers are reaching 60. The current EU grant system allows farmers to ‘coast’ according to Eustice. He believes they are holding on to the farm, without risk, simply to pick up the susidary grant.
Those who do wish to retire, can’t as they struggle to save a lump sum for retirement. Defra, an agricultural organisation, believe “a lump sum can help contribute to the costs of moving somewhere new”.
How are farmers reacting to the new scheme?
A survey of 360, conducted by The Tenant Farmers’ Association, reports that three quarters of them are interested in the scheme.
The main concern of the retirement scheme is that it will become too difficult to take advantage of. The organisations chief executive George Dunn explains the payments on their own won’t be enough. For people with large holdings, lots of cattle, it won’t seem very attractive. The smaller farms are more likely to take the offer up.
The scheme hopes to bring in a new generation of farmers. Farmers who will be more open to a greener way of life. Approximately £3 billion of State subsidiary is given to the industry each year. The Government grant is hoping to phase this subsidiary out.
A spokesman for NFU says the overhaul is a good thing, however, they must give adequate time for “life changing” decisions to be made. They are calling for a fair transition for existing farmers.
The new scheme hopes that younger farm hands are more likely to accept ‘nature friendly’ ideas. They will also be more inclined to seek income through new means such as glamping.
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