Labour’s new budget introduced the Family Farm Tax, imposing a 20% inheritance tax on farming estates over £1 million. This change vastly reduces the current 100% inheritance tax relief on agricultural assets and will impact over a quarter of UK farms. As a result of this tax change, many farmers may be forced to sell land, buildings, or machinery to cover tax bills, putting generational farm succession at risk.
Labour's Family Farm Tax threatens food security, jobs, and could drive up food prices. I hope you consider signing the petition here to oppose this tax.