Editorial: Sensible move
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
Farmer confidence has slumped to its lowest since 2009, according to a new Federated Farmers survey.
Federated Farmers’ July Farm Confidence Survey of 1,725 farmers saw 28.6% of respondents rate current economic conditions as bad, a 53-point drop on the January survey.
58.7% of the farmers who responded expect general economic conditions to worsen over the next 12 months, a 17-point reduction on the survey six months ago.
"Clearly, concern about the global economy is weighing on sentiment,” says Feds President and commerce spokesperson Andrew Hoggard.
Hoggard says the negative expectations are likely due to disruption on trade caused by the pandemic, as well as fears of a lasting global recession, heightened protectionism and trade wars.
“This fall in expectations is echoing the fall in business and consumer confidence, and the fall in the domestic economy from Covid-19," says Hoggard.
All the farming sector groups recorded worsening perceptions about current economic conditions, however meat and wool farmers experienced a 70-point slump compared to January.
The survey report by Research First records farmers’ three greatest concerns as: the economic situation (chosen by 15.6% of respondents), regulation and compliance costs (15.3%), and farmgate and commodity prices (11.1%).
"The government can’t do that much about the first and third of these, with global conditions being the predominant factor. But it can do something about ensuring regulation and compliance costs are sensible and affordable," says Hoggard.
Managing director of Woolover Ltd, David Brown, has put a lot of effort into verifying what seems intuitive, that keeping newborn stock's core temperature stable pays dividends by helping them realise their full genetic potential.
Within the next 10 years, New Zealand agriculture will need to manage its largest-ever intergenerational transfer of wealth, conservatively valued at $150 billion in farming assets.
Boutique Waikato cheese producer Meyer Cheese is investing in a new $3.5 million facility, designed to boost capacity and enhance the company's sustainability credentials.
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
Compensation assistance for farmers impacted by Mycoplama bovis is being wound up.
Selecting the reverse gear quicker than a lovestruck boyfriend who has met the in-laws for the first time, the Coalition Government has confirmed that the proposal to amend Fringe Benefit Tax (FBT) charged against farm utes has been canned.