Farmers Warn of ‘Militant’ Response to Inheritance Tax Change
NFU President Tom Bradshaw is calling on the government to reverse its decision on the Budget change, citing a growing backlash in rural communities and concerns about food security from farmers.
The National Farmers’ Union (NFU) leader has indicated that farmers are willing to take strong action following discussions with the government to request a reversal of the planned inheritance tax alterations.
Tom Bradshaw, President of the NFU, expressed astonishment at the level of support and outrage demonstrated towards the proposed imposition of inheritance tax on farms valued over £1 million. Farmers fear that this change could jeopardize family farming in the UK.
According to the Budget announcement, agricultural property relief (APR) will be eliminated, subjecting farms worth more than £1 million to a 20% tax. Farmers believe this will compel them to sell off inherited land to settle the tax obligations.
The policy shift has sparked significant opposition within rural communities, sparking a dispute over the number of farming businesses that will be impacted.
Treasury Claims Challenged
Chancellor Rachel Reeves defended the policy by suggesting that in certain situations, the threshold could be approximately £3 million.
After a meeting with Environment Secretary Steve Reed and Exchequer Secretary to the Treasury James Murray, Bradshaw refuted the assertion that only a minority of farms would be subject to the tax.
He stated: “We strongly contest the figures presented by the Treasury and have referenced DEFRA’s own data. While the Treasury claims that only 27% of farms will be affected by these changes, DEFRA’s statistics imply that two-thirds of farms will be impacted.”
Bradshaw emphasized the need for a resolution, denouncing the tax change as unfair and highlighting the concerns of family farms across the UK about their future.
