No.
Reformed funding support for farmers and land managers will be an important part of our programme to level up the rural economy, and we will provide grants and funding to improve productivity and help farm businesses become more resilient and successful. We believe that farming efficiently and improving the environment can, and indeed must, go hand in hand. We will therefore support investment in green agri-tech, as referred to by my hon. Friend the Member for North Dorset (Simon Hoare), and invest in research and development to help raise sustainable productivity levels.
Clause 4 includes a duty on the Secretary of State to set out a multi-annual plan for financial assistance, while clauses 5 and 6 include provisions that will require the Government to make annual reports on the amount of financial assistance provided in England. Those three clauses are designed to provide greater certainty and stability about assistance in the future, and are in direct response to concerns expressed by right hon. and hon. Members about the earlier version of the Bill. Clauses 7 to 13 provide that during a seven-year transition period basic farm payments will gradually be phased out.
I strongly believe that the changes in the Bill will be positive for farmers and the environment, but change of this magnitude will also have far-reaching impacts, and adjustment to the new approach will not always be easy. As I emphasised in the debate on the Direct Payments to Farmers (Legislative Continuity) Act 2020, a managed seven-year transition period up to 2027 will give farmers time to adapt to the new system, and provide time for the new schemes to be fully tested before they are delivered across the country.