Conservative party leader Kemi Badenoch during a visit to Seed J H & Son farm in Aylesbury (Image: PA)
New Tory leader Kemi Badenoch has vowed to reverse the Chancellor’s hated inheritance tax raid on farmers.
Mrs Badenoch warned the “family farm tax is going to cripple the industry” and urged the British people to send Sir Keir Starmer a message he "can't ignore".
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Rachel Reeves announced in the Budget that the 100% relief for family farms would be limited to only the first ￡1 million of combined agricultural and business property.
For anything above that, landowners will pay a 20% tax rate, rather than the standard 40% rate of inheritance tax (IHT) applied to other land and property.
READ MORE: Seventh-generation farmer furiously accuses Labour of trying to 'destroy' sector
British farmers need our support in the wake of Keir Starmer’s cruel attack on family farms.
Go to https://t.co/do1NRQGGrF pic.twitter.com/3252piHHX2
— Kemi Badenoch (@KemiBadenoch) November 15, 2024
But Tory leader Kemi Badenoch said: “The message from farmers I’ve met is clear: Labour’s Family Farm Tax is going to cripple the industry.
“If we lose our family farms, we won’t be getting them back. I’m clear that we oppose these taxes, and we would reverse them.
"Farming is a vital part of the British economy. Global conflicts and the threat of trade barriers remind us that Britain's food security is essential and we need to grow and eat more British food.
"This callous decision threatens everything from our rural economy to our food security to our natural environment.
"If you want to help us save your local family farm, I'm asking you to sign the petition at stopthefarmtax.com. Let's send the Government a message they can't ignore."
Environment Secretary Steve Reed was yesterday forced to defend the
Government’s “crystal clear” figures on the number of farmers impacted by rises in inheritance tax.
He remained adamant that “three quarters of farmers will pay nothing” because of changes announced by Chancellor Rachel Reeves as he faced questions from the Conservatives about whether the figures had been “checked before the Budget”.
The National Farmers’ Union (NFU) has disputed the Government’s claims about the number of farms that will be impacted, warning that plans to roll together allowances for both IHT relief and business property relief could leave far more agricultural businesses exposed to the tax.
Up to 20,000 demonstrators have been warned they face arrest if they use vehicles to block roads in central London next Tuesday.
Conservative party leader Kemi Badenoch with Greg Smith MP during a visit to Seed J H & Son farm (Image: PA)
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Reform UK leader Nigel Farage has said he is concerned about the impact that the new inheritance tax rules on family farms will have on the British landscape.
He said: “Don't underestimate the fury of farmers. We don't see it very much in this country, it's almost part of a sort of national life in France.
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“But back in 2000 there was a big, big farmers protest. They blockaded refineries all over the country in a protest at the price of fuel.
“And it led to such shortages that there was a really big wobble. I would argue that was the worst moment that Tony Blair had as Prime Minister. The Conservatives, even for a brief moment, went ahead of Blair in the polls.
“So don't underestimate the farmers.”