Before the general election – Labour MPs said they would Back British Farming.
Those same MPs now have a chance to stand by their word, do the right thing and back our British farmers by voting to scrap Starmer’s disastrous #FamilyFarmTax 👇https://t.co/rYLTvC0Yfp
— Robbie Moore MP (@_RobbieMoore) December 3, 2024
Thousands of farmers gathered in central London to protest changes to tax rules that could impact the inheritance of agricultural property. The demonstration, which included tractors, hay bales, and signs reading “no farms, no food,” was the first major protest since the announcement of the changes in the annual budget last month. Under the new rules, set to take effect in April 2026, farms worth more than $1.3 million will face a 20% tax when passed on to the next generation, half the usual rate.
We are forcing Labour to vote on their Family Farms Tax.
This cruel policy will decimate British farming. Labour MPs need to do the right thing and back our farmers. https://t.co/6S8T34Dkqc pic.twitter.com/LC5IPKsNab
— Conservatives (@Conservatives) December 4, 2024
Previously, agricultural land, farm buildings, cottages, and houses could be handed down through generations without paying the tax, which could amount to around $3.77 million tax-free. Supporters of the changes argue that the tax will recoup money from wealthy individuals who have bought agricultural land as an investment, driving up farmland costs. They maintain that the “vast majority” of farms will be “unaffected” by the taxation changes.
Over 170,000 people have now signed our petition.
Keir Starmer needs to u-turn on his disastrous Family Farm Tax.
Add your name to send the government a message: https://t.co/dSwWxnSbQo pic.twitter.com/ixF6z7tc0o
— Conservatives (@Conservatives) December 2, 2024
Farmers rally against inheritance tax
However, the National Farmers Union (NFU) and the Country Land and Business Association (CLA) estimate that tens of thousands more will be affected. CLA President Victoria Vyvyan stated, “Ministers claim the inheritance tax cap hits only the rich, but it could put 70,000 farms — big and small — at risk.
All will be questioning their future, and whether they’ll have one to pass on.”
"Labour can tackle tax avoidance without throwing family farms under the bus." Great to have @CA_TimB writing in today's @CityAM on what ministers need to understand about farming.https://t.co/Seuo4kshMQ
— Christian May (@ChristianJMay) December 2, 2024
The NFU pointed to a report suggesting that around 75% of commercial family farms would be required to pay the tax. NFU President Tom Bradshaw said in a statement, “British farmers make less than 1% profit. They don’t have the money in the bank to pay this proposed family farm tax.”
Despite the protests, the government appears set to stand firm on the changes.
Environment Minister Steve Reed told reporters that the government was “taking decisions because they’re in the interest of every part of the country.”
The demonstration remained largely peaceful, with children on toy tractors pedaling around after a rally addressed by various speakers. While some promised to escalate the protests unless the hike is removed, the government, which won a large majority in July’s general election, seems committed to the changes.
