Andy Burnham urged to U-turn on hated farm inheritance tax raid in Budget
Farmers have made a last-ditch plea to Andy Burnham to U-turn on the inheritance tax raid in the budget. They warn that the controversial policy brought in under Sir Keir Starmer threatens family farms across the country.
TL;DR
- Farmers are appealing to Andy Burnham to reverse the inheritance tax policy on family farms.
- The tax is seen as a threat to the survival of multi-generational family farms.
- Farmers argue that the tax forces the sale of land, jeopardizing farm viability and heritage.
- The threshold for inheritance tax on farms was previously raised to £2.5 million after backlash.
- Concerns exist that the tax stifles investment and has negatively impacted the agricultural industry.
- Political figures from both the Conservatives and Reform UK have vowed to scrap the tax if they win power.
- The NFU president stated that while concessions were welcomed, some farms still face substantial bills.
- A government spokesperson noted the raised threshold protects smaller farms and ensures larger estates contribute fairly.
- Critics claim Labour broke election promises by introducing these taxes to fund other benefits.
- The Daily Express is campaigning for a full U-turn on the inheritance tax on family farms.