Total income from farming in 2005 was £2.5 billion; estimated to have fallen by 8.9 per cent in current prices, or by 11 per cent in real terms, from its 2004 level. Although in real terms total income from farming has slipped below the levels of the late eighties, it is 40 per cent above the low point in 2000. Total income from farming is income generated by production within the agriculture industry including subsidies. It represents business profits plus remuneration for work done by owners and other unpaid workers.
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