British farmers ‘bewildered’ and scared for the future amid major concerns over tractor tax, review finds
Why British farmers are ‘bewildered’ and scared for the future
- A government-commissioned review by Baroness Minette Batters found that changes to inheritance tax are the biggest issue threatening the viability of the farming sector.
- Farmers are 'bewildered and frightened' by the new inheritance tax rules, which will impose a 20 per cent tax on inherited agricultural assets valued over £1m.
- The controversial changes, dubbed the 'tractor tax' or 'family farm tax', have led to significant hostility towards the Labour Party in rural communities.
- Labour MPs have expressed concerns, with one MP suspended for voting against the government on the issue and another warning that farmers feel 'misled'.
- The Environment Secretary, Emma Reynolds, acknowledged the need for government, farming and the food industry to collaborate more closely, announcing a new Farming and Food Partnership Board.