London, UK – Hundreds of farmers from across the UK have driven their tractors into the heart of London to protest against the government’s proposed changes to inheritance tax, which they say will threaten family-run farms and drive up food prices.
The demonstration, which took place outside Parliament on Monday, saw farmers rallying against the new tax rules that will impose a 20% levy on agricultural assets worth more than £1 million.
While some farmers will have a higher threshold of £3 million, many argue that the tax changes will have devastating consequences for the industry.
Fears Over the Future of Family Farms
The new policy, announced in October, has been met with fierce opposition from farming groups who believe it will make it harder for families to pass their farms down to future generations.
Protesters carried signs reading “Save Our Farms” and “No Tax on Our Future” while some farmers warned that the additional costs could lead to the closure of many small and medium-sized farms.
“For generations, our families have worked hard to sustain our land and feed the nation,” said Tom Williams, a fourth-generation farmer from Yorkshire. “This inheritance tax will force many of us to sell our farms just to pay the government. It’s unfair and unsustainable.”
The government has attempted to reassure farmers, stating that no tax would be payable on the first £325,000 above the limit, effectively making the untaxed total £1.325 million.
However, farming unions argue that the costs of land, machinery, and livestock mean most farms are valued well above that amount.
Concerns Over Food Prices and Farming Industry Stability
Farmers have also warned that the tax changes could have wider consequences beyond the farming community, potentially leading to increased food prices and reduced domestic food production.
“This isn’t just about us; it’s about the entire food supply chain,” said Sarah Jenkins, a dairy farmer from Devon.
“If farms are forced to sell land or shut down, it will reduce local food production and push food prices even higher. The government needs to rethink this policy before it’s too late.”
The National Farmers’ Union (NFU) has also voiced its opposition to the tax reforms, urging the government to reconsider the impact on rural communities.
NFU President Minette Batters described the changes as “a direct threat to the future of British agriculture” and called for urgent talks with policymakers.
Government Stands by Tax Changes
Despite the backlash, the government has defended the tax reform, arguing that it is a necessary measure to ensure a fairer taxation system.
A spokesperson for the Treasury stated, “These changes will ensure that inheritance tax is applied more fairly across different sectors, while still providing generous thresholds for farmers. We are committed to supporting the agricultural industry and will continue engaging with farmers to address their concerns.”
However, with protests gaining momentum and farming unions calling for further demonstrations, the government is likely to face continued pressure to amend or scrap the proposed tax changes.
As farmers vow to continue their fight, the debate over inheritance tax reform remains a key issue in the UK’s agricultural and economic landscape.
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