Year of change and opportunity: How 2024 has shaped the agricultural landscape

It is extraordinary what has happened over this time and the impacts the agricultural industry and rural communities have seen:

1. End of Basic Payment Scheme: The conclusion of 30 years of area-based payments under the Basic Payment Scheme (BPS) marks a shift towards a more self-reliant farming model.

2. Sustainable Farming Incentives: On the back of the most abysmal autumn with acres unable to be drilled, huge swathes of winter bird food and other options were planted throughout the country until the 25% rule was quickly brought in, as DEFRA’S pockets were on the path to being bled dry.

3. Farming Recovery Fund payments: Only now have we received payments for the impacts of flooding in Autumn 2023 after being in an area initially deemed ‘unaffected’ according to DEFRA. 

4. European Farmer Discontent: Protests beginning in Holland swept through Europe providing an opportunity to learn lessons in relation to the impacts of policy changes across the channel. Our government needs to manage such major challenges in ways that carry assent in a democracy.

5. Bio-Diversity Net Gain Requirements: Introduction of mandatory biodiversity requirements in early 2024 has put pressure on under-resourced local planning authorities, adding complexity to the planning process.

6. General Election Shifts: Labour’s election victory in July has brought environmental priorities to the forefront, with ambitious goals to decarbonise the economy and bolster renewable energy. 

7. Renewable Energy: The UK is now about halfway to its net zero target for 2050. With Labour’s focus on driving for fully non-fossil fuel systems by 2030, renewable energy has more focus than ever before. 

8. Bio-Security Concerns: The westward spread of the Bluetongue restricted zone has raised alarms about livestock security.

9. Renters Rights Bill: September saw the introduction of the Renters Rights Bill, aiming to raise standards for rental properties and protect tenants with stricter regulations.

10. The Agricultural Landlord and Tenant Code: This now provides clear guidance to aid the potential growth of England’s let sector. We must ensure that future agreements and relationships can create value and mutual benefit to both tenant and landlord.

11. The Repeal of the ‘Commercial Unit Test’ in Agricultural Holdings Act 1986 Succession Applications: The changes are set to reshape how succession is determined in practice, with the aim of adapting agricultural tenancy law to the realities of modern farming. 

12. Autumn Budget and Business Restructuring: The autumn budget was one of the most anticipated events for the farming community. It’s clear that the budget has set the stage for crucial business restructuring. Now is the time for farmers to reassess operations, plan for succession and take advantage of new opportunities, particularly for younger generations.

13. Trump's Return to the White House: The U.S. is a major agricultural player, understanding how this will influence commodity prices, exports, and market access is essential. 

The agricultural landscape is undergoing a period of unparalleled transformation. From local policy decisions to global trade dynamics, the need for expert advice and guidance has never been greater. 2024 has been a year of challenges, but also a year full of opportunities. 

We have a team of experts across the country who are available to help landowners and tenants. Please contact Charlotte Shepherd in the first instance on 01743 290642.