Yes, there's a statue in Haverfordwest of Ed Tudor Pole, who, along with his men have kept the Welsh out of South Pembrokeshire since 1172.South Pembs is, remember the Landsker line
Yes, there's a statue in Haverfordwest of Ed Tudor Pole, who, along with his men have kept the Welsh out of South Pembrokeshire since 1172.South Pembs is, remember the Landsker line
I am not sure how accurate your figures are,they look low to me. There would be numerous families with mortgages on a family home higer than your figures and they do not have the asset backing of a farm.Few farmers appear to grasp the link between the increase in agricultural lending and the increase in the value of UK farmland, though it is concomitant. Human nature, I guess: all enjoy seeing their assets increase by value, fewer enjoy exploring the underlying mechanism that makes this possible.
But it gets worse: more and more, we see farmers complaining that their banks 'don't understand farmers' when, to my mind, banks understand farmers all too well - what is the reduction of specialist agricultural managers, and the cherry-picking of only the most 'profitable' (aka the most indebted) farming customers, but a gradual retreat from the agricultural market?
With, of course, obvious implications for UK farmland prices.
I reckon banks understand English farmers better than they understand themselves. Here are a few facts and figures from DEFRA which suggest their own conclusions:
1. The average English farm debt is £150,000 per farm;
2. Ten percent of all farms have liabilities of £400,000 or more and therefore would require consistent income flows to ensure that interest on borrowing can be paid.
3. Back in the day fewer than half of all farms carried any debt, now just over a quarter of farms have liabilities of less than £10,000.
And now interest rates are rising....
If English farm debt per farm is 150k, what is it for Scotland and Wales?
What about Honda finance - Have Once, Never Did Again?
It is usually simply keeping up appearances, I would venture....?
Sure, debt can be viewed as just another farm input, but the best inputs are free IMO
Banks run on love??? What next , you'll be telling me you don't watch the ice hockey on TV at home or the bar?
Why do you consider it an illusion? It may be ok for a farmer who is born with silver spoon in his mouth to decry debt but how is a young person starting with nothing supposed to get ahead?The English are, undeniably, very sensitive...
It's enough to get (some) going , just by mentioning that they are, in fact, 'English.' They should, perhaps, just accept this and move on with their life - it's not my fault that they are as a nation both dissatisfied and angry.
Anyway, I focused on DEFRA's stats because they are the most topical, and available. Farm structure is rather different in Scotland, for several reasons, and debt averages are harder to find. Wales ditto*. *Anyone who can find these stats is welcome to put them up for discussion.
The Prince's Trust says farm borrowing across the UK has more than doubled 2006-2015 (to £11 billion) and in 2017 it reached £18 billion. Those facts speak for themselves.
Much as I disagree with my former neighbour on many topics, this is not 'progress', folks. It is merely the illusion of it.
I have no degree never went to universityeveryone is racist to a degree
The English are, undeniably, very sensitive...
It's enough to get (some) going , just by mentioning that they are, in fact, 'English.' They should, perhaps, just accept this and move on with their life - it's not my fault that they are as a nation both dissatisfied and angry.
@Walterp
It appears your joy for life is positively spreading from your upbeat self.
The English are, undeniably, very sensitive...
It's enough to get (some) going , just by mentioning that they are, in fact, 'English.' They should, perhaps, just accept this and move on with their life - it's not my fault that they are as a nation both dissatisfied and angry.
Some are more so than others, aren't they Walter and Ashtree?everyone is racist to a degree
Interesting, can you give me some examples ?One needs to remember, @Walterp, that not every farms cashflow is as flat as say a pig or dairy Farmer.
When my father came here 30yrs ago, his new bank manager wanted to see flat cashflow forecasts. Father said that on arable farm, that's nigh on impossible. Still he was insistent. Father told him to bugger off and learn about the seasons of agriculture.
I have a simple rule re the overdraft. The figure matters not one jot, as long as the balance goes as high in the black as it does low in the red, I'll not worry.
There are many industries running with more debt and lower profit margins than farming, with less assets too. With that, and the fixed nature of farming (it's not like we can empty an industrial unit and do a moonlight flit is it!) farming is a far safer bet to a bank than many other professions.
I too am curious.Interesting, can you give me some examples ?
Interesting, can you give me some examples ?
Interesting, can you give me some examples ?
There are also lots of pure combinable arable farms (no stock, roots or veg) with very little work for half the year. Divide your income across the hours you actually spend working, its not as bad as some make out.
Lots of livestock farmers do the same, I was also lambasted for making that suggestion.Yes, this. But I got lambasted for suggesting that a lot of arable farmers were making a full-time job out of a hobby.
Quite.everyone is racist to a degree
..... because it is seen as progress!!!!Lots of livestock farmers do the same, I was also lambasted for making that suggestion.