Rachel Reeves has faced demands for a inheritance tax U-turn for months (Image: PA/Getty)
The number of farmers dying by suicide should be measured to “understand the human cost” of Rachel Reeves’s inheritance tax raid, the Tories have said.
Pensioners, family businesses and farmers are paying the price for Labour’s “economic illiteracy”, Shadow Environment Secretary Victoria Atkins.
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Farmers are at a higher risk of mental health issues because of factors like isolation, long hours, and physically demanding work.
The son of a farmer who took his own life last year suggested the Budget played a role.
Ms Atkins urged the Government to commit to “a full and proper review of this dreadful policy”.
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In the Commons, Ms Atkins said: “Growth flatlining, business confidence plummeting and job freezes – and who has Labour chosen to pay the price for their economic literacy? Pensioners, family businesses and farmers.”
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She added: “Will the minister now commit to a full and proper review of this dreadful policy?”
Ms Atkins continued: “As worrying reports of suicides amongst farmers begin to emerge, will he please do as the Defra (Department for Environment Food and Rural Affairs) Secretary (Steve Reed) has failed to do, which is measure the number of suicides over the next 12 months so that we can understand the human cost of this policy?”
Treasury minister James Murray said the Government’s plans to impose 20% inheritance tax on farms worth more than ￡1 million is a “fair approach”, with current relief on business and agricultural assets “heavily skewed towards the wealthiest estates”.
Mr Murray said: “I think that one of the confusions on the benches opposite is to confuse the value of farms with the value of claims under inheritance tax.
“And the only way to truly understand the impact of changes to inheritance tax policy on inheritance tax claims is to look at the claims data itself.”
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The Daily Express has demanded the Government U-turns on its Budget changes through the Save our Family Farms crusade.
Almost all major supermarkets have backed calls for the Government to pause the implementation of its inheritance tax changes.
But Downing Street yesterday (THURS) stood by plans to introduce inheritance tax for farm businesses after supermarkets called to pause them.
The Prime Minister’s official spokesman said: “We’ve set out our reforms. It means that the majority of those who claim that relief will not be affected.
“They’ll be able to pass the family farm down to their children, just as previous generations have always done.
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“We’ve taken a fair and balanced approach that protects the family farm whilst also continuing to invest in the farming budget, as I say, ￡5 billion over two years.
“The Secretary of State continues to engage with the sector … to deliver our new deal for farmers and he’ll continue to do so.”
Mental health charity Samaritans is available on 116 123 or on their website.