Chancellor Rachel Reeves

In today's Farming in Five, chief reporter Rachael Brown gives a round up of the latest updates from Treasury and farming leaders on the family farm tax. She looks ahead to the NFU conference next week where the Defra Secretary will give a speech to farmers, but the Prime Minister is not expected to attend

The event, organised by NFU Cymru Brecon and Radnor members, will involve a rally to demonstrate how the proposed changes to Inheritance Tax will impact the entire Welsh rural economy

In today's Farming in Five, chief reporter Rachael Brown reports on Arla’s soaring profits, giving its farmer-owners the highest dividend payout in the company’s history, how tenant farmers are being left ‘unprotected’ by the Chancellor’s changes to Inheritance Tax, and the UK's borders have been called into question once again after 600kg of illegal meat was seized in Northern Ireland.

NFU president Tom Bradshaw said the Government believed it was 'right' and that the proposals were 'fair', with the farming industry offered ‘generous' exemptions

Tenant Farmers Association chief executive George Dunn said the family farm businesses the Chancellor said she was trying to ‘protect' were now ‘completely unprotected'

NFU president Tom Bradshaw said backbencher Labour MPs in rural and inner city constituencies were still 'absolutely the route through this'

In today's Farming in Five, chief reporter Rachael Brown reports on the farming unions' meeting with Treasury to discuss the family farm tax, where farming leaders felt the door had been 'slammed in their faces' once again. Unions now say their focus is on getting more Labour backbench MPs including those in the inner cities to pressurise the Government ahead of the Finance Bill in Autumn. And in other news, the UK's borders have been called into question once again after 600kg of illegal meat was seized in Northern Ireland, and growers are being urged to be extra vigilant amid warnings that organised crime gangs are targeting rural properties

All four UK farming unions and member organisations from across the sector are due to meet with Treasury officials on February 18 to discuss the Government's proposed changes to Inheritance Tax

Prior to the Budget, the Farmers' Union of Wales previously warned a worse case scenario of full ‘Barnettisation' of Wales' agricultural funding could equate to a ‘drop of around 40% in funding for Welsh farming - a cut of around £150m a year'

The Prime Minister is understood to have no intention of attending the conference, with Defra Secretary Steve Reed expected to speak