Labour Inheritance Tax Sparks Outrage Among Farmers

Chancellor Rachel Reeves' decision to impose inheritance tax on agricultural estates over £1 million has sparked widespread outrage among farmers and stakeholders, arguing it will devastate family farms and rural communities. Critics, including former NFU president Minette Batters, warn that the tax threatens food security and community viability, as many farmers are asset-rich but cash-poor, forcing them to sell land to cover tax bills. Reeves defends the policy as necessary to alleviate public service funding pressures, highlighting that previous tax reliefs disproportionately benefited wealthy landowners. The policy is part of Labour’s broader budget which aims to raise £40 billion in tax hikes to support public spending, amid criticism for not introducing wealth taxes to distribute the financial burden more equitably. High-profile figures like Jeremy Clarkson and Martin Lewis have publicly expressed their disapproval, reflecting broader discontent with the fiscal measures. This move has also led to fears that foreign corporations might acquire British farmland, further impacting the agricultural sector.