DEFRA funding cuts likely in budget

[IanD]

Doesn't bode well for the future of the DEFRA grant to CART... 😞

 

https://www.theguardian.com/environment/2024/oct/29/hard-hit-defra-to-have-budget-slashed-further-despite-warnings

[LadyG]

What can be done? 

All you need is to hint at a peerage, and they will lay out the red carpet with velvet robes and a coronet.

[David Mack]

Actually I think CRT is in a better position than other DEFRA-funded bodies . CRT have received a funding settlement covering the period 2027 to 2037, so while that is a lot less than CRT and boaters wanted, it is much more likely to survive without further cuts than bodies which have no such longer term funding agreement. Of course reduction in the DEFRA budget does mean pleas for further funding are going to fall on even deafer ears, but then extra government funding wasn't going to happen anyway.

[IanD]

8 minutes ago, David Mack said:

Actually I think CRT is in a better position than other DEFRA-funded bodies . CRT have received a funding settlement covering the period 2027 to 2037, so while that is a lot less than CRT and boaters wanted, it is much more likely to survive without further cuts than bodies which have no such longer term funding agreement. Of course reduction in the DEFRA budget does mean pleas for further funding are going to fall on even deafer ears, but then extra government funding wasn't going to happen anyway.

Let's hope you're right, governments have a long history of changing their minds about longer-term funding which was supposedly agreed and settled... 😞 

[Gybe Ho]

If DEFRA stopped funding agricultural set-aside schemes that pay farmers to grow weeds there would be loads of cash available for canals and cheaper food in the shops.

[Alan de Enfield]

4 hours ago, Gybe Ho said:

If DEFRA stopped funding agricultural set-aside schemes that pay farmers to grow weeds there would be loads of cash available for canals and cheaper food in the shops.

 

 

Obviously you are not aware that the set-aside scheme was abolished in November 2008 so as to increase cereal production and lower prices after  2 years of poor harvests.

Edited October 29, 2024 by Alan de Enfield

[MtB]

2 minutes ago, Alan de Enfield said:

 

 

Obviously you are not aware that the set-aside scheme was abolished in November 2008 so as to increase cereal production and lower prices after  2 years of poor harvests.

 

Don't feed the...

 

Oh never mind. 

 

 

[wandering snail]

19 hours ago, IanD said:

Let's hope you're right, governments have a long history of changing their minds about longer-term funding which was supposedly agreed and settled... 😞 

Sadly this has not been agreed and settled, neither parties have yet signed up to it, CRT preferring to leave it open in the hope that it can be re-visited and more offered. That's what Fund Britain's Waterways are campaigning for. Unfortunately, like the warning on investments, it could go down as well as up.

[Gybe Ho]

11 hours ago, Alan de Enfield said:

 

 

Obviously you are not aware that the set-aside scheme was abolished in November 2008 so as to increase cereal production and lower prices after  2 years of poor harvests.

 

As you should well know, "setaside" has become a collective term for a whole range of Government schemes to persuade farmers to grow weeds. The farmers know it is madness in view of food price inflation.

[BoatinglifeupNorth]

I see CaRT are selling its property in Leeds, their old office is for sale as well as the Royal Armouries and adjacent real estate, asking something like £11 million for the Armouries site. They also sold some of their properties earlier this year in Sheffield for a combined total of just over £5 million. Hopefully it’ll go a little way towards the upkeep and maintenance of the system🤞🤞

[Gybe Ho]

48 minutes ago, BoatinglifeupNorth said:

I see CaRT are selling its property in Leeds, their old office is for sale as well as the Royal Armouries and adjacent real estate, asking something like £11 million for the Armouries site. They also sold some of their properties earlier this year in Sheffield for a combined total of just over £5 million. Hopefully it’ll go a little way towards the upkeep and maintenance of the system🤞🤞

 

Sounds like useful top-up income, how many diversity administrators or lock gates does £5 million buy?

 

Edited October 30, 2024 by Gybe Ho

[5239]

they’ll need it to pay for the growing management team,

…plus some new and bigger blue signs,

grr bark woof, 

[David Mack]

2 hours ago, BoatinglifeupNorth said:

I see CaRT are selling its property in Leeds, their old office is for sale as well as the Royal Armouries and adjacent real estate, asking something like £11 million for the Armouries site. They also sold some of their properties earlier this year in Sheffield for a combined total of just over £5 million. Hopefully it’ll go a little way towards the upkeep and maintenance of the system🤞🤞

I thought the proceeds of property sales had to be reinvested in other property or investments, with the only the income such property and investments generate being available for spending on waterway operation and maintenance.

[BoatinglifeupNorth]

1 hour ago, David Mack said:

I thought the proceeds of property sales had to be reinvested in other property or investments, with the only the income such property and investments generate being available for spending on waterway operation and maintenance.

I didn’t know that. 
So if they’re selling off fair sized real estate, like in Leeds, are they buying up new property and what are the investments they’re now investing in, anyone know?

Edited October 30, 2024 by BoatinglifeupNorth

[Lily Rose]

1 hour ago, David Mack said:

I thought the proceeds of property sales had to be reinvested in other property or investments, with the only the income such property and investments generate being available for spending on waterway operation and maintenance.

 

That was my understanding as well. I believe they are looking to sell less profitable assets in order to invest elsewhere for a better return. I gave up trying to do that in the stock market years ago as it's far easier said than done. Index trackers all the way now. Hopefully they're a lot better at asset picking than I was.

[Alan de Enfield]

1 hour ago, BoatinglifeupNorth said:

I didn’t know that. 
So if they’re selling off fair sized real estate, like in Leeds, are they buying up new property and what are the investments they’re now investing in, anyone know?

 

 

They are building around 300 houses per year.

[Momac]

 

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[BoatinglifeupNorth]

1 hour ago, Alan de Enfield said:

 

 

They are building around 300 houses per year.

Who are CaRT?

[Alan de Enfield]

House builders and owners.

[DShK]

[Gybe Ho]

3 hours ago, BoatinglifeupNorth said:

Who are CaRT?

 

Continuously annoying Regulatory Tripe 

[Momac]

So what impact if any has the budget had on C&RT?

 

Probably much the same as  any other business which is the increase in employers national insurance.

And possibly some minimum wage considerations.

But, for the immediate future, funding via government seems  to have been unaffected by the budget.

 

 

[Naughty Cal]

6 minutes ago, Momac said:

So what impact if any has the budget had on C&RT?

 

Probably much the same as  any other business which is the increase in employers national insurance.

And possibly some minimum wage considerations.

But, for the immediate future, funding via government seems  to have been unaffected by the budget.

 

 

Presumably they will be affected by the changes to Capital Gains Tax?

[Momac]

18 minutes ago, Naughty Cal said:

Presumably they will be affected by the changes to Capital Gains Tax?

[Naughty Cal]

Does that exemption apply to the joint venture companies that they own 50% shares in though?

 

https://canalrivertrust.org.uk/business-and-trade/property-development/joint-ventures