Rachel Reeves’ measures on national insurance and inheritance left a sour taste in producers’ mouths
Nick Speakman was already a successful business owner when he decided to turn his hand to winemaking. His father had passed on to him part of the family’s farmland in Essex’s Crouch Valley. With this as his base he founded Missing Gate Wines in 2018. He was in good company. Today this area is one of the densest planted regions for vines in the country. Speakman invested £1.5mn into planting 100 acres of vines, to produce premium still wines.
At least one of her clients also wants to sell up. Property agents too sense some unrest. At property brokers Savills, Chris Spofforth, director for the farms and estates team, has at least two sellers in Gloucestershire and East Sussex on his books. But others could follow. “There are more estates talking to about their future. The floodgates haven’t opened, the Budget has made that a more precarious path to tread,” says Spofforth.
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