Majority of public back farmers in family farm tax row

Polling conducted this weekend by More in Common has found that the majority of voters and nearly half of all Labour voters think farmers should be exempt from Inheritance Tax.

In last week's Autumn Budget, Chancellor Rachel Reeves revealed changes to Agricultural Property Relief (APR), limiting 100% APR and Business Property Relief to the first £1 million of asset value.

Inheritance Tax

Above that threshold, there will be 50% relief on qualifying assets, giving an effective rate of 20% on assets over £1m.

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The change has caused considerable concern for the farming community, with farmers emphasising it will impact family farms across the country wanting to pass on the farm to the next generation.

Approximately 83% of UK farms are family-owned. 

In response, Farmers Guardian has launched 'Save Britain's Family Farms' campaign to support the industry.

James Wright, policy director of the Conservative Rural Forum and FG In Your Field columnist, said: "This is not about good government; it is a war on the countryside. Labour simply does not understand the complexities and values of rural Britain.

Family farm tax

"By imposing this tax, they are jeopardising an industry that is already facing considerable challenges. Labour must reconsider this measure and prevent further harm to an essential part of our nation's fabric."

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Mr Wright has also encouraged those who oppose the family farm tax to sign the petition at stopthefarmtax.com which has already been signed by tens of thousands of people across the country.