Third of British farmers made no profit in past year, report finds

While the UK was part of the EU, subsidies from the bloc for UK farmers made up as much as half of their annual income. Photograph: Michael Foley/Alamy

A third of British farmers are making a loss or breaking even as they struggle with the loss of subsidies and looming inheritance tax changes, a report on post-Brexit farming has found.

Only 14% of farmers surveyed for McCain Foods’ inaugural Farmdex report said they made 10% or more profit in the past year. In fact, many are making no profit at all, with 35% of the farmers reporting making a loss or breaking even.