Farmers ‘building an army’ to take on Rachel Reeves’ brutal inheritance tax raid _ Hieuuk
More than 45,000 people took to London’s streets last month to protest Rachel Reeves’ budget – but farmers have now warned that number could balloon without a reversal of the policy.
Farmers have warned they are “building an army” to take on the Government amid its inheritance tax raid which risks decimating British agriculture.
Father of three Olly Harrison, 43, rallied farmers together at the Business Property Relief (BPR) Summit at London’s Palladium today.
He was among the organisers who arranged a mass protest in London last month following the Labour government’s inheritance tax changes at October’s budget.
YouTube farmer Mr Harrison said: “We’re building an army. Last time we were 45,000 farmers outside Rachel Reeves’ door. Next time we’ll be 250,000.”
Mr Harrison, who has backed the Express’s crusade to Save Britain’s Family Farms, said the BPR’s bar “has been set too low in this Budget”.
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He added: “I was up on the roof the other day, which my dad put up in 1985, fixing some storm damage – there is still a massive storm raging at the moment and it is able to destroy a lot of businesses in this room.”
The fifth generation farmer said he could be forced to sell some of the farm when he inherits it from his 76-year-old father Thomas to pay tax bills
Tory leader Kemi Badenoch used her appearance at the event to commit to reversing the family farm tax.
The Chancellor announced that inheritance tax relief for farms would be limited to £1million, meaning all assets above that threshold passed down to the next generation would be taxed.
There is a higher threshold of £3 million for couples passing on their farms.
The Treasury says around 500 estates a year are expected to pay inheritance tax under the changes but campaigners warned it could impact around 75,000 farms.
Mrs Badenoch said: “We need to think about the next generation… we need to give them hope.
Kemi Badenoch speaking at a summit organised by farmers opposing inheritance tax changes (Image: Getty)
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“Many young people believe it is not going to be better.
“We are going to change that. We are on your side and we are going to fix it.”
A Labour Party spokesman said: “The Conservatives utterly failed the farming industry during their 14 years in government, forcing over 12,000 farmers and agricultural businesses out of. They sold out British farmers in trade deals, left farms facing rocketing energy bills and allowed £300 million earmarked for farmers to sit idly in the Treasury’s coffers instead of in their pockets.
“This Labour Government’s commitment to farmers remains steadfast because food security is national security. That is why are investing £5 billion into farming over two years – the largest budget for sustainable food production in our country’s history.
“The changes to agricultural property relief set out in the Budget will only impact around 500 estates a year. This is a fair and balanced approach that protects small family farms while also helping to fix our public services after the Conservatives recklessly left a £22 billion black hole in the nation’s finances.”
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