"We are growing businesses. We are creating jobs. If the Government is looking for a sector to kick-start growth and rebalance the economy then they should start by looking at agriculture."
- Peter Kendall, NFU president
The U.K. economy is expanding; however, the recovery is considered to be unbalanced, as growth was mostly led by a steep decline in the household savings rate, hence future prospects can be cautious and treated carefully. Moreover, one of the key drivers was the housing sector, which is overheating and risks creating a bubble that will derail economic growth. Therefore, the government should be looking for a sector that can guarantee a long-term prosperity.
It can be surprising for some, but agricultural sector's contribution to the economic growth rocketed 54% between 2007 and 2012. The survey titled Backing the Business of British Farming showed the farming sector contributed 8.6 billion pounds to the GDP in recent years. The figure is significantly higher that the one recorded between 2003 and 2007, suggesting the role of the sector is increasing. Moreover, food and drink is currently the nation's fourth-largest export sector, growing by 2.5% in the first half of 2013. The sector has been battling for survival in the recent years, as farmers were suffering from heavy rain, drought, unseasonable snow and flooding across the whole country in the recent weeks.
Agricultural sector has a potential to drive vital economic growth as it has proven its resilience through the deep financial crisis and severe weather conditions.
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