'Betrayed' farmers to protest over Labour's inheritance tax raid - as Chancellor insists changes are 'fair'
1 November 2024, 19:41 | Updated: 19 November 2024, 09:34
Farmers across the UK are furious after Labour announced changes to inheritance tax in the recent Budget.
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Hundreds of angry farmers will take to the central London in protest on November 19 after Labour announced that it would be revoking farmer exemption from inheritance tax for those with combined business and agricultural assets worth more than £1m.
The rate of Agricultural Property Relief will be set to 20 per cent on the value of business and agricultural assets over £1million.
The budget has sparked outrage, with campaigners warning that the switch could kill off family farms, damage food security and environmental protection work.
Protesters plan to take to the streets with tractors and other large machinery to make a stand against the changes, which are set to come in from April 2026.
Read more:Jeremy Clarkson and Kirstie Allsopp lead fury as farmers 'shafted' with inheritance tax raid
Campaigner argues that the government is 'intent on ending farmers' way of life'
It comes after farmers expressed their concern over food security in March.
On Thursday evening, Ms Reeves said the change was a 'fair' way for the government to raise money for public spending.
Responding to the announcement, Clarkson's Farm star Kaleb Cooper said on his Instagram: “After the news today, I want to say this and that is: Farmers keep your head up and remember we all need to stick together.”
Some of his fans said in the comments: “Farming is a way of life that passes down generations to generations all to feed the country.
"They are custodians of the land for the next generations. The government doesn't understand a thing.”
Jeremy Clarkson accused the government of "shafting" farmers with the changes.
"Farmers. I know that you have been shafted today," he said.
"But please don’t despair. Just look after yourselves for five short years and this shower will be gone."
President of the National Farmers’ Union Tom Bradshaw said: “It’s been a disastrous budget for family farmers, and especially tenant farmers.
"The shameless breaking of clear promises on Agricultural Property Relief will snatch away the next generation’s ability to carry on producing British food, plan for the future and shepherd the environment.
"Before the election, Keir Starmer promised to establish a new relationship with farming and the countryside. Well, he’s certainly done that.”
