Farmers Criticize UK Budget Inheritance Tax Changes

The recent changes to Agricultural Property Relief (APR) announced in the UK Chancellor's Autumn Budget are causing significant distress among farmers, particularly in Northern Ireland, where they could jeopardize succession plans and the future of family farms. Under the new rules, inheritance tax will apply to farms valued above £1 million, a move criticized by farming organizations such as Farmers For Action (FFA) and the National Farmers' Union (NFU). Farmers express concern that the tax changes, coupled with rising production costs and inflation, threaten food security and could lead to increased consumer prices. NFU President Tom Bradshaw emphasized that the government lacks understanding of the farming sector, arguing that the £1 million cap on APR is unrealistic as many viable farms exceed this value. Farmers plan a mass lobby of MPs to urge the reversal of these tax changes, which many view as detrimental to the future of family farming. The government has pledged additional funding for flood defenses and farm schemes, but farmers remain skeptical about the potential impact of the new tax structure on their livelihoods.