I’m sure many of you have seen last week’s farming protest in the news where tens of thousands of farmers marched on Westminster demanding that Labour reverse their decision
Quite frankly, Labour politicians across the UK do not seem to understand the nature of farming businesses, the challenges farmers continue to face and the fragility of the sector.
This policy will see 20% inheritance tax levied on farmers with estates worth over £1 million.
Some Farmers may have assets worth a lot; however, most are cash poor. They don’t have the money to pay large inheritance taxes on family farms that were never intended to be sold.
Many farmers will just not be able to afford such high tax bills and will be forced to break up their family farms.
Furthermore, it has not been made clear what other assets are captured within the £1 million. Would it encompass farming equipment, livestock, or crops? There are so many unanswered questions driving anxiety and concern.
Labour Ministers claim this move is to tackle inheritance tax loopholes, but this approach is a blunt tool and far too heavy handed and will lead to family farms being broken up
These farms are not just a business, they are a proud family tradition with farms being passed from parents to their children for generations.
To make matters worse, this isn’t just farmers that will be affected.
Our food security is incredibly important, and farmers play an incredibly important role in ensuring that we have healthy, locally sourced food on our tables as well as their key part in protecting the very fabric of our rural communities.
I am not surprised that farmers have been so angry and hurt by ill-judged labour politicians considering the unhelpful comments that the First Minister has made about the sector.
Telling farmers to simply “calm down a bit” really doesn’t take into account the hardship that the sector has been through.
Farmers have a right to be concerned as this comes on top of the scourge of TB, intense water regulations and the ill-thought-out Sustainable Farming Scheme.
I’m glad to see that Kemi Badenoch has pledged to scrap this ridiculous policy proving that, once again, the Conservatives are on the side of working people.
Labour must follow her example and scrap this disastrous policy and work with, not against, farmers to secure our heritage and our food security.
Peter Fox MS - Monmouth
