The NFU argues that the Treasury's assumption regarding the impact of the new inheritance tax is fundamentally flawed, as it relies on outdated data which fails to capture the true economic landscape of family farms in the UK.
Tom Bradshaw, president of the NFU, emphasized the urgent need for the government to reconsider their position, stating that the proposed tax changes threaten the viability of family farms that play a crucial role in the agricultural sector.
Experts suggest that while closing tax loopholes could be beneficial, the current approach jeopardizes the sustainability of medium-sized family farms, which may become unmanageable under the new rules.
Prominent figures from the farming community, including James Dyson and Jeremy Clarkson, have voiced their opposition to the tax changes, supporting the NFU's call for a reassessment of the policy's impact on farming families.
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