Farming leaders have warned of deep unrest, labelling the policy change a 'betrayal' of rural communities. They acknowledged mounting frustration over the government's decision to impose inheritance tax on farms valued over £1 million, indicating that many farmers feel threatened by the potential repercussions on family-run farms.
In addressing concerns, farming minister Daniel Zeichner urged calm and stated, 'The vast majority of farmers will not be affected.' He emphasized the importance of seeking advice for individual cases, adding that Treasury figures suggest fewer than 500 farms will be subject to the tax.
Transport secretary Louise Haigh praised farmers for their essential roles in the economy and food security. She described the inheritance tax reforms as 'fair and proportionate,' while reassuring consumers that the government prioritizes food availability and has plans in place to avoid disruptions.
While defending the government's stance, Haigh noted that the tax rate for affected farms is significantly lower than standard inheritance tax thresholds, reflecting an attempt to balance the financial pressures on farmers with the need for tax reforms.
Collection
[
|
...
]