March 20, 2008

UK to implement 10 percent cut in pig levy

The British Pig Executive (BPEX) has announced a 10 percent cut in pig tax, which has been approved by ministers, in order to assist the ailing UK pig industry.

The cut will take effect from April 1, 2008 and will last for a year. It would reduce the total tax to 75 percent for each slaughtered pig.

BPEX has also decided to increase spending by GBP2.5 million (US$5 million), which would be used to promote the industry and to build on the ongoing feed cost crisis campaign, as well as to achieve a fair price for pig producers.

BPEX is carrying out a project that includes a GBP1.5 million (US$3 million) vaccination scheme for PCV2 disease; the scheme offer producers vaccine vouches.

The move is meant to relief the producers due to soaring feed costs and that BPEX will use every available resource of theirs to assist the industry, according to Mick Sloyan, chief executive of BPEX.

"The Board believes these initiatives will enhance the range of activities already being delivered and this is the best way BPEX can help the whole English pig industry meet the considerable challenges ahead," said Sloyan.