Kemi Badenoch is set to warn that Rachel Reeves’ proposed tax on family farms could devastate the rural economy, suggesting it is the worst raid on family business in living memory.
Badenoch will highlight that the proposed changes to Business Property Relief could lead to 125,000 job losses, with a potential reduction in economic activity of £9.4 billion.
The Labour reforms could impose Inheritance Tax on family firms passing assets to the next generation, endangering the sustainability of family businesses and their contributions to the economy.
Organizers of the #SaveFamilyFarms rally in London emphasize that the proposed tax changes threaten not just jobs but the very fabric of family-run agricultural businesses in the UK.
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