Inheritance Tax Changes Spark Tensions Between UK Farmers and Government
Farmers accuse the UK government of betrayal over new tax policies affecting agricultural land and property.
UK Labour leader Keir Starmer has rejected accusations of initiating a class war amid criticism from the National Farmers’ Union (NFU) over new inheritance tax changes targeting wealthy landowners.
The NFU president, Tom Bradshaw, labeled the government's decision a 'betrayal' after learning that previous promises about maintaining agricultural property relief (APR) would not be upheld.
Hundreds of farmers rallied in London, voicing anger over the new budget measures which impose a 20% tax on farm assets exceeding £1 million, rather than the usual 40% inheritance tax rate.
Previously, farms qualified for 100% relief on such taxes.
Prime Minister Starmer, while addressing the G20 in Rio de Janeiro, defended the taxation policy as a 'balanced approach' necessary to support public services in rural areas, and countered claims that it targeted the wealthy.
Sky News interviewed him, where he stated that the 'black hole' in finances left by the previous government needed to be filled.
Farmer voices, such as Philip Greenhill from North Wiltshire, expressed concerns that there is a disconnect between farm asset value and earning capacity.
Other farmers, including Sue and William Hosegood from Devon, feared for their children's future involvement in farming due to recurring tax burdens.
High-profile taxpayer Jeremy Clarkson joined the protests, arguing the policy was rushed and needs re-evaluation.
Starmer refuted Clarkson's claim that 96% of farms would be affected, asserting the £3 million exemption limit should protect most familial farm transfers.
Environment Secretary Steve Reed also countered the farmers’ concerns, suggesting public opinion would support taxation on high-value estates.
The NFU continues its campaign against the measures, asserting significant public backing.
The NFU president, Tom Bradshaw, labeled the government's decision a 'betrayal' after learning that previous promises about maintaining agricultural property relief (APR) would not be upheld.
Hundreds of farmers rallied in London, voicing anger over the new budget measures which impose a 20% tax on farm assets exceeding £1 million, rather than the usual 40% inheritance tax rate.
Previously, farms qualified for 100% relief on such taxes.
Prime Minister Starmer, while addressing the G20 in Rio de Janeiro, defended the taxation policy as a 'balanced approach' necessary to support public services in rural areas, and countered claims that it targeted the wealthy.
Sky News interviewed him, where he stated that the 'black hole' in finances left by the previous government needed to be filled.
Farmer voices, such as Philip Greenhill from North Wiltshire, expressed concerns that there is a disconnect between farm asset value and earning capacity.
Other farmers, including Sue and William Hosegood from Devon, feared for their children's future involvement in farming due to recurring tax burdens.
High-profile taxpayer Jeremy Clarkson joined the protests, arguing the policy was rushed and needs re-evaluation.
Starmer refuted Clarkson's claim that 96% of farms would be affected, asserting the £3 million exemption limit should protect most familial farm transfers.
Environment Secretary Steve Reed also countered the farmers’ concerns, suggesting public opinion would support taxation on high-value estates.
The NFU continues its campaign against the measures, asserting significant public backing.
