by Neil McCole

Increase in meat prices

Increase in meat prices

You may have seen that in recent months meat prices in the UK have risen sharply, especially beef which is up 30 to 40% compared to last year. This is due to a combination of factors including reduced supply, increased demand globally, higher costs such as National Minimum Wage (NMW) and National Insurance (NI), weather issues, feed and fuel costs, and post-Brexit tariffs.

Due to these challenges, especially the rise in NI and NMW, it is clear the farming industry needs support and investment to survive. Previous removal of inheritance tax benefits and subsidies has hurt farmers, evidenced by over 30 farms being forced to close in Scotland alone over the past 12-18 months. There is hope for support in the Autumn budget, but for now it remains a volatile environment.

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