(Dow Jones) -- So far the U.K. government hasn't commented on how farming will be subsidized following the vote to leave the EU. The Agricultural and Horticultural Development board suggests that direct payments to farmers may be reduced, basing its view on pro-market statements made by previous governments and U.K. lobbying efforts to cut the EU's Common Agricultural Policy subsidies. As many farms rely on direct subsidies, reducing them would shake up the industry, AHDB says. At one end of the spectrum, consolidation would strengthen big agribusinesses. At the other, a shift to subsidizing farms based on the public goods they provide may favor much smaller-scale "living heritage" farms.
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