My Lords, I have added my name to Amendment 131 because of the worry that political short-termism could interfere with what is a very long-term and often unstable industry. In farming, when you buy a bull, you are not likely to sell the progeny of that animal for at least three years. If you buy a dairy calf, it is two years before it produces its first litre of milk. If you invest in projects such as a new grain building or new milking equipment, you are likely to be taking out a 15-year mortgage, so that enterprise has to last for 15 years before you start to get any real return.
All this means that it would be incredibly helpful if you had a long-term perspective from whatever Government are in power or will be in power; you need a degree of certainty that the rug will not be pulled from under your feet after only five years. Of course, no business expects to operate in a world of total certainty, but farmers have enough uncertainty as it is without Governments removing key building blocks at short notice. Not only do we farmers get floods, droughts, pests and diseases, but our farm product prices sometimes literally halve overnight, dropping some 20% to 30% below the cost of production. It is difficult to make a decent living from a small farm.
All I am saying is that I think we owe it to our farmers to take government backing for agriculture, in whatever form that currently happens to be, out of the five-year political cycle and allow farmers the comfort of a seven-year, multi-annual financial plan. I realise that no Parliament or Government can bind their successor, but it would be politically much more difficult for them to change the rules if a seven-year term for a financial plan were in this Bill.