INVESTMENT is key for the agricultural industry in 2019 – according to the head of agriculture at Clydesdale and Yorkshire Bank, Brian Richardson.

In a positive look ahead to the coming year, he said that despite not knowing yet what will come of Brexit, he believes there is a good idea of what the future framework for agriculture will be – and although for many, it will mean less support, this will be staggered enough to allow the industry time to plan ahead.

The Agriculture and Horticulture Development Board published a paper in January 2018 identifying that there is a productivity gap in UK agriculture when compared with the rest of Europe, but Richardson thinks investment will help farmers work more efficiently.

“Given all the hard work that goes into farming, it was a fairly hard message from AHDB and it’s not just about how much we produce, but how effectively we do it,” he stressed. “Investment in new systems, that will enable farmers to work more efficiently, will come to the fore in 2019 as we move towards a new agricultural support regime.

"There was help towards this announced in the November budget, with the raising of the annual investment allowance to £1million for two years from the start of 2019. This will allow businesses to invest in plant, machinery, and fixtures and fittings, which can be set against the business in that year,” he stated.

Reflecting on the previous year, Mr Richardson added: “It wasn’t a bad year for farming, and despite the continued uncertainty around Brexit, businesses have had the chance to look forward to the future with a little more confidence.

“That’s part of agriculture’s resilience – it continues, whatever the challenge, in producing quality food and an affordable price for the UK public. It’s ability to adapt and change is well proven – hopefully we will see clarity on the direction of future support mechanisms. We look forward to working with our customers as they start to address the issue of productivity, which investment will form part of,” he encouraged.

Returning from the Oxford farming Conference with a sense of elation at the messages which were delivered to the UK’s agricultural industry, Mr Richardson added: "I was impressed by the mood at the Oxford Farming Conference, where the theme was 'World of opportunity.' Michael Gove gave a very positive outlook for the sector post Brexit although he emphasised his short-term concern if there was a no deal.

“The event highlighted the positive 'can do' attitude of the sector and that change, given time to adapt, could be handled and could usher in what Gove described as the fourth farming revolution. The conference also highlighted the enthusiasm and potential from the next generation of farmers with many there as scholars and as part of the Emerging Leaders programme,” he concluded.