Farmers Plan Protests Against Inheritance Tax Targeting Labour MPs
Farmers are gearing up for protests against inheritance tax changes, targeting Labour MPs in a bid to rally support for family farms.
Farmers, Inheritance Tax, Labour MPs, Protests, UK
Westminster: Farmers are really fired up about the recent inheritance tax changes. They’re planning to hit the streets again next month to make their voices heard, especially targeting rural Labour MPs.
Earlier this month, farmers from all over the UK gathered in Westminster, expressing their frustration over the new tax rules announced by Chancellor Rachel Reeves. The changes mean that farms valued over £1 million will face a 20% tax on assets above that threshold, which is a big deal for many.
On January 25, they’re set to hold demonstrations in various locations outside of Westminster. The goal? To put pressure on those rural MPs. They’re also planning to put up banners along main roads to grab the attention of MPs as they travel during the holiday season.
Tom Bradshaw, the president of the National Farmers’ Union, made it clear that farmers aren’t backing down. He emphasized that there’s too much at stake, including their families and the future of farming in the UK.
He said this protest is a chance for everyone who cares about family farms to come together and show their support. It’s not just about farmers; it’s about anyone who values the high-quality food produced by these farms.
The recent budget changes have extended inheritance tax to agricultural land and frozen the tax thresholds for two more years. Right now, the first £325,000 of an estate is exempt, but anything above that is taxed at 40%.
Despite the backlash, ministers have stated they won’t reverse this decision, insisting that tough choices were necessary to keep public finances in check. Environment Secretary Steve Reed has reassured farmers that the government is committed to supporting them, with a significant budget allocated for sustainable food production.