Thanks in large part to subsidies, the value of farmland in the UK has tripled in 10 years: it has risen faster than almost any other speculative asset.
Obviously. A payment simply for owning land (or renting it) is equal to a rise in the rental income from that land. Which will feed through into a rise in the capital value of that land. So, after a few years of rising prices everyone\’s in exactly the position they were at the start. They\’re earning 5% (or whatever) off that capital value. Anyone wanting to get into farming simply has to borrow more money to get into it: their incomes won\’t have risen at all.
The answer is to simply stop all agricultural subsidies.
In fact, one could go further. We should have a proper land value tax. That is, we tax those who own farmland, not subsidise them.