We can slash food prices after Brexit

BRITAIN has a once-in-a-generation chance to slash the cost of food and improve the countryside when it frees itself of the EU’s hated Common Agricultural Policy, a major new report has revealed.

A study by the Policy Exchange think-tank has given a damning assessment of the EU’s infamous farming subsidy system, which it says has raised retail prices, supported inefficient farmers on the continent, lessened competition and reduced productivity.

The Farming Tomorrow report concludes that, free of Brussels rule, Britain can end a protectionist system which puts money into the pockets of wealthy landowners and allow for free trade deals with the rest of the world.

Policy Exchange claims that the immediate benefit of leaving the EU will be to cut tariffs for products with the rest of the world, which will make it cheaper to buy food not produced in this country. It also recommends the UK should replace CAP with a new British Agricultural Policy which focuses on payments for ecosystem services to improve the countryside and environment.

It says the Government can phase out production subsidies and income support by 2025. Any remaining subsidies should be redirected towards protection for natural resources and increasing research and development to boost innovation and the sector’s long-term productivity.

Warwick Lightfoot, who co-wrote the report, said: “Leaving the EU allows us to think again about agricultural policy from first principles.

“The UK can now lead the world in cutting tariffs and being a champion of free trade in agriculture.”