Family farms tax hike: Chancellor must meet farming community

EMBARGO: Immediate Release

Responding to reports on BBC Newsnight that the Treasury has dismissed calls from the Environment Department to soften the inheritance tax changes for farmers, Liberal Democrat Environment Spokesperson Tim Farron MP said:

"This tax hike will be a disaster for family farms across the country. Rather than blocking pleas from DEFRA to rethink, the Chancellor must urgently meet with the farming community and NFU to better understand their heartfelt concerns and reverse the tax hike.

“British farmers are already battling with sky-high energy bills and botched overseas trade deals; this hike will only make things much worse. Many of the farmers who will be hit are those whose incomes are less than the minimum wage, and the Government's own figures out this morning show that farm income last year was lower for all but one type of farm."

"Family farmers have already been failed by the Conservative party - the new government must not leave them behind, and must scrap this awful family farming tax."

ENDS

Notes to Editor:

Reported by Newsnight here.

In 2023/24, average Farm Business Income was lower for all farm types except for specialist pig farms. Farm Business Income by type of farm in England 2023/24 data here.