I'm sure farmers across the UK breathed a collective sigh of relief yesterday, as it was confirmed by the Chancellor of the Exchequer that the tax break on red diesel would remain in place for the agricultural industry.
Over the past week, farmers have been steeling themselves for a potential 50% rise in fuel costs following reports that the tax relief was going to be scrapped altogether as part of the 2020 Budget. While the news is a positive outcome for the industry the Chancellor has, however, announced that other sectors will be stripped of the tax exemption in two years' time.