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V628 - Agriculture Bill 2014 watch

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  • View Poll Results: Should this bill be passed into law?
    As many are of the opinion, Aye
    60.98%
    Of the contrary, No
    26.83%
    Abstain
    12.20%

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    V628 - Agriculture Bill 2014, TSR Government

    Agriculture Act 2014
    An act to provide greater incentives and future success for the agriculture industry.

    BE IT ENACTED by The Queen's most Excellent Majesty, by and with the advice and consent of the Commons in this present Parliament assembled, in accordance with the provisions of the Parliament Acts 1911 and 1949, and by the authority of the same, as follows:-

    1. Corporation Tax abolition
    (1) Businesses in the Agriculture, Forestry and fishing sector are hereby exempt from paying corporation tax

    2. Society of land development and rural settlement (SLDRS)
    (1) The SLDRS will regulate the protection, sale and purchase of agricultural land in addition to overseeing a subsidiary named the Young Famers Instillation (YFL)
    (2) The Young Farmers Instillation will provide loans to young farmers with the goal of aiding start-ups for the first three years of trading
    (i) Government will guarantee £0.1bn of loans which will be distributed in co-ordination with the SLDRS and participating banks
    (ii) The purpose of theses loans are to provide aid for agricultural start-ups for the first three years of trading and to allow existing farmers to purchase more agricultural land
    (iii) The YFI will oversee the creation of 1000 agriculture based apprenticeships
    (3) The SLDRS will be overseen by the department of Energy, Environment, Food, Rural Affairs and Climate Change

    3. Devolution
    (1) Agriculture, Forestry and Fishing policy is hereby devolved to the Scottish, Welsh and Northern Irish Assemblies

    4. Commencement, Extent and Short Title
    (1) This Act may be cited as the Agriculture Act 2014
    (2) This bill shall extend to England
    (3) Shall come into force on April 1st 2014.

    Notes and Costings
    Spoiler:
    Show
    Society of Land Development and Rural Settlement (SLDRS)
    A new governing body for the protection of agricultural land, purchase and sale of agricultural land, informing people on how to get into the business, will run the Young Farmers Installation (see below). They will also offer grants and loans at low rates to those wishing to purchase more agricultural land or for those wishing to get into the industry

    It's remit will ensure that the most fertile agricultural land is not spoiled or sold for non-agricultural needs.

    Young Farmers Installation (YFI)
    This will be about bringing more young people into the world of farming, it will make provision for vocational routes. The YFI will not just try and bring in more young people but when it does it will give grants and loans to them at low rates to help them get off the ground.

    Corporation Tax
    A combination of the low rate of corporation tax and deductibles means that revenue from corporation tax receipts in the Agriculture, Forestry and Fishing industries amounts to just £0.3bn. It is a needless hindrance.

    http://www.hmrc.gov.uk/statistics/ct.../table11-4.pdf

    Costing
    Corporation Tax abolition: -£0.3bn
    Unfunded liabilities in the form of loans: -£0.1bn

    Cost to treasury: -£0.3bn

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    An Aye for I!
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    Nay.

    Interesting how many who claim to be in favour of "ending world poverty" will vote Aye to this.
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    Good to see support for jobs and growth. Just 4 more 'Aye' or 'Abstain' votes needed for the bill to pass by my reckoning.
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    The Ayes to the right: 25
    The Noes to the left: 11
    Abstentions: 5

    So the Ayes have it, the Ayes have it. Unlock.
 
 
 
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