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Farmers' pay up 9% to average £63,000
8:57am Friday 9th August 2013 in News
Britain's farmers got a 9% pay rise last year taking their average household income to more than £60,000/year.
Dairy farmers did best, with an average of £86,500. Pig farmers averaged only £34,500.
The data is for the 2011/2012 financial year and is contained in the annual Farm Business Survey.
The key findings from the Defra report are:
Seventy eight per cent of the total income of principal farmers’ households in 2011/12 was from farm business income, which includes income from diversification. Almost all of the remainder came from off-farm income of the farmer and their spouse or common law partner.
Average household income (before tax) of principal farmers’ households was £63,300/household, which is a 9% increase from 2010/11, due to a rise in farm business income.
92% of farm households have off-farm income of the farmer and spouse or common law partner; 4% have income from other household members.
Non-farm income (off-farm income of the farmer and spouse or common law partner and income of other household members) has remained largely unchanged year on year at between £14,000-£15,000/household.
For those households that have sources of income additional to the farm: average off-farm income of the farmer and spouse or common law partner was £13,900/household and average income of other household members was £15,700/household
While the average (mean) household income was £63,300 in 2011/12, the lowest 25% of principal farmer’s households have an income of less than £27,100.
Dairy farms had the highest average household income at £86,500, which is an increase of 24% from 2010/11; whilst average household income was lowest on Pig farms (£34,500).
36,900 farm businesses (66%) comprised of a single household. Analysing these businesses reveals a stark contrast between income and assets. For example, while those in the bottom quarter for household income had an income of below £19,400, the median net worth for these businesses was £535,000.
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