'End of family farms': Farmer explains 'disastrous' effects of Budget on farming. Will Sargent admitted that Labour's new Budget will cause many farmers to 'go out of business' due to the inheritance tax relief associated with it.
Are you a farmer whose family will be hit by the change to Agricultural Property Relief? Contact Rory Tingle @[email protected] of furious farmers will hold a major demonstration in central London amid rising anger at Labour 's Budget death tax raid on their land.
Farmers are threatening to attend the November 19 demo with their tractors and other large machinery, which could grind the capital to a halt. Farmers last demonstrated in London in March over food security fears. 'We have got to raise money, I feel we've done that in fair and balanced way - 73 per cent of farmers won't be paying a single penny more in inheritance tax.'
From April 2026, inheritance tax will be levied at an effective rate of 20 per cent on the value of business and agricultural assets over £1million. The Government is 'restricting the generosity of agricultural relief' to make the inheritance tax system 'fairer'. Campaigners warned that will affect almost all family farms, slamming the government for breaking 'clear promises' to protect the industry.
And the Country Land and Business Association said the move, from April 2026, would hit 70,000 farms – calling it 'nothing short of a betrayal' which would 'jeopardise the future of rural businesses'. But Downing Street is confident changes to inheritance tax on farms will not impact food security and insisted there was adequate financial support available to farmers.
The spokeswoman said the Government's message was 'clear that we are committed to supporting farmers', adding: 'It is expected that almost three-quarters of estates are expected to be unaffected by this.'
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