Labour’s plans to axe £100million from the budget of a key farming fund would be “a short sighted act of self harm”, a Tory MP has warned.

Rebecca Smith MP is among the Tories urging Rachel Reeves not to slash the Environmental Land Management schemes (ELMs) which encourages greener land management.

Ms Smith said: “ELMs support farmers to create more diverse and resilient businesses, helping them to fight flooding and clean up our waterways.

“A cut to the ELMs budget, a key pot of money for delivering nature restoration in England, would be a short sighted act of self harm.

“Ministers should restore the budget in line with inflation, and support more farmers to protect our precious natural environment and boost our food security.”

The last Conservative government replaced the EU’s Common Agricultural Policy (CAP) with ELMs to ensure farmers are paid to protect and improve the environment alongside producing food.

George Freeman MP said: “On the cusp of cutting the nature-friendly farming budget by £100 million, Labour’s promise to protect nature and support farmers risks looking worthless.

“This cut would mean 239,000 fewer hectares of nature-friendly farmland supported by the budget. Rather than cutting it, the government should restore the budget at least in line with inflation.

“In order to offer our farmers and our natural environment the support they need, ministers must avoid making this terrible mistake.”

Labour pledged in its manifesto to “make environment land management schemes work for farmers and nature”.

The party also promised to “deliver for nature” by endeavouring to meet the targets in the Environment Act.

The Treasury is seeking £40bn in tax rises and spending cuts to cover measures including a string of workers’ pay rises, costs relating to asylum seekers and more cash for the NHS.

John Flesher, deputy director at the Conservative Environment Network, said: “Farmers are on the frontline of protecting our environment and they deserve our support. The Conservative government rightly did away with the EU’s top-down system of farm payments which damaged British nature. ELMs provide better support for farmers, give taxpayers more bang for their buck, and are vital in tackling climate change and biodiversity loss.

“It is deeply concerning that Labour ministers are wavering on providing the funding our farmers and nature need. We should be incentivising more farmers to take up nature-friendly practices and boost the UK’s resilience to the threats posted by rising temperatures and the decline of nature. Cutting ELMs will only cost us all more, both financially and environmentally, in the long run.”

A source at the Department for Environment, Food and Rural Affairs did not rule out a cut to the ELMs budget, pointing to “difficult decisions” faced by the new Government.

“The Conservatives left Britain facing the worst economic inheritance since the Second World War because they refused to make the tough decisions and spent money that didn’t exist,” they said.

“The Chancellor has been clear that difficult decisions lie ahead to repair the colossal damage left by the Conservatives and address the £22 billion hole in the public finances.

“Decisions on how to do that will be taken at the Budget in the round.”