Consultation on proposed changes to farm income statistical indicators

This Consultation expired on 7/1/07

DARD is undertaking a consultation to seek views on the introduction of a new headline indicator of farm income in Northern Ireland.

Farm income has been the most widely quoted indicator of the health of the farming sector for many years. However, because Net Farm Income (the current farm level income measure) treats all farms as if they are tenanted and puts a notional cost on family labour, it‘s not a good indicator of how much profit the farm business has generated for household income and reinvestment.

DARD proposes to replace Net Farm Income with a new measure called Farm Business Profit. It represents the financial return to all unpaid farm family labour and on all capital invested in the farm business.

This consultation is limited to Northern Ireland, but similar separate exercises are underway in England, Wales and Scotland. When all are complete, it is hoped that agreement can be reached on common indicators and methodologies that will be followed across the UK.

The deadline for responses is 8 January 2007.

Consultation document
Consultation document Annex Flowchart
Consultation stakeholder letter