Laurence Robertson – 2016 Parliamentary Question to the Department for Environment, Food and Rural Affairs

The below Parliamentary question was asked by Laurence Robertson on 2016-01-20.

To ask the Secretary of State for Environment, Food and Rural Affairs, what recent assessment she has made of the trends in the level of farm borrowing.

George Eustice

Total UK farm borrowing in 2014 stood at £16.6 billion. Over the last 10 years borrowing has increased by nearly 70%, or by 34% in real terms (allowing for the impact of inflation).

However, the total value of UK farm assets has more than doubled in real terms over the last 10 years, largely due to the increased value of land. This has led to a significant increase in the net worth of the sector despite the rise in borrowing.

More details on the borrowing, value of assets and net worth of the sector can be found in the aggregate balance sheet for agriculture on the statistics (total farm incomes) page of the GOV.UK website.