Hybu Cig Cymru have announced a 4.2% increase in the red meat levy paid by producers and abattoirs in Wales from April 2024. The Welsh Red Meat Levy rates were increased in April 2023 and a mechanism was introduced to link future levy increases to the Consumer Prices Index including owner occupiers' housing costs (CPIH).
Red meat levy rates had been static for 12 years prior to 2023 and the decision to link levy rates to annual inflation in 2023, using a tracker, ensures that levy income is maintained in real terms and will remain at a level where spending power is not compromised.
The levy is not subject to an automatic annual increase but allows the HCC Board to make any increase recommendations to the Minister based on the previous calendar year’s CPIH.