Lidl and Tesco have warned Chancellor Rachel Reeves that her proposed inheritance tax changes on farmers could destabilize the UK's food security. Both retailers stressed the importance of small family farms for providing quality food and urged a reconsideration of the tax policy. Tesco's chief commercial officer highlighted farmers' need for stability amidst ongoing policy changes, emphasizing that current uncertainties threaten their planning and investment capacity. The Co-Op also expressed concerns, advocating for a pause in the proposed tax implementation until a thorough consultation occurs.
Prasad stated, "One message is loud and clear: farmers desperately need more certainty. After years of policy change, it has been harder than ever for them to plan ahead or to invest in their farms."
Tesco's chief commercial officer noted that the stability of farms is essential, ensuring customers can continue to get the great quality food they want, at a price they can afford.
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