Farmers protest against UK inheritance tax changes

by / ⠀News / November 22, 2024
Farmers protest against UK inheritance tax changes

The UK environment secretary has promised to reform the food system to ensure farmers are paid fairly for the food they produce. This follows significant protests in Westminster against inheritance tax changes. Steve Reed spoke at the Country Land and Business Association (CLA) conference.

He stated, “I heard the anguish of the countryside earlier this week.

We may not agree over the inheritance tax changes, but this government is determined to listen to rural Britain and end its long decline.”

Reed emphasized the urgency of bridging the gap between rural and Labour communities. He presented this as a crucial issue to Prime Minister Starmer.

The rural economy is 16% less productive than the national average, according to CLA figures. Thousands of farmers gathered on Tuesday to protest changes to agricultural property relief. The changes impose a 20% tax on the value of farms worth more than £1m when passed on to family members.

See also  Vaughan Gething Wins Welsh Labour Leadership, Historic First

Tom Bradshaw, the National Farmers’ Union president, described the tax change as the “final straw” after years of hardship. Farmers have been squeezed by supermarket chains, disappearing subsidies post-Brexit, and extreme weather affecting yields.

Farmers’ grievances over inheritance tax

They are now further concerned about the viability of passing their businesses to descendants. Reed announced plans for a 25-year farming roadmap to address these concerns. The plan aims to make farming and food production more profitable and fair.

“I’m not prepared to let so many farmers keep working so hard for so little,” he said. The forward-looking plan focuses on “supply chain fairness.” It aims to ensure farmers receive fair compensation for their produce. Reed noted that producers, farmers, and growers often get relatively little of the money that a product is sold for.

He highlighted the issue of rising costs, such as energy prices, often being shouldered by producers, leading to unsustainable practices. Victoria Vyvyan, president of the CLA, accused the government of “taxing us out of existence.” She expressed fears among farmers about losing everything they have worked for and called for greater attention to rural issues. Reed expressed hope that his plan would restore confidence in rural communities.

He stated, “This isn’t just about one thing. It is something much wider, and we have basically a proportion of rural Britain out on the streets of London telling us, telling politicians and politics, that they feel ignored, alienated and disrespected, and that’s what they want to change.”

The government’s commitment to addressing rural grievances and ensuring fair treatment for farmers aims to reconcile long-standing issues. It also acknowledges the critical role of rural Britain.

About The Author

Erica Stacey

Erica Stacey is an entrepreneur and business strategist. As a prolific writer, she leverages her expertise in leadership and innovation to empower young professionals. With a proven track record of successful ventures under her belt, Erica's insights provide invaluable guidance to aspiring business leaders seeking to make their mark in today's competitive landscape.

x

Get Funded Faster!

Proven Pitch Deck

Signup for our newsletter to get access to our proven pitch deck template.