Farmers Rally Against Inheritance Tax Hike

Farmers across the UK are protesting against the government's proposed 20% inheritance tax on agricultural assets valued over £1 million, set to take effect in April 2026. Environment Secretary Steve Reed acknowledged the turmoil within the farming community at the Oxford Farming Conference, attributing it partly to a £22 billion financial deficit inherited from the previous government, which necessitated tough fiscal measures. Protests have included a significant rally in East Yorkshire, where farmers expressed fears that these tax changes would force family farms to sell assets, jeopardizing their livelihoods and the rural economy. Local councils, like East Riding of Yorkshire, have passed motions urging the government to reconsider the tax, emphasizing its potential devastating impact on family-run farms. Farmers argue that the tax could lead to the breakup of generational farms, putting additional pressure on aging farmers who may face impossible financial decisions. The government maintains that the reforms aim to create a fairer tax system while insisting that most farms will not be significantly affected.