London (Parliament Politics Magazine) – The head of the National Farmers Union (NFU), Tom Bradshaw, has accused government ministers of betraying the agricultural industry with a new inheritance tax on farms over £1 million. Thousands of farmers are ready to protest in London on Tuesday.
Before a planned protest in Westminster, the president of the farmers’ union claims that ministers are betraying the agricultural industry with the upcoming inheritance tax changes.
According to the BBC, NFU head Tom Bradshaw will say in his speech on Tuesday that “To launch a policy this destructive without speaking to anyone involved in farming beggars belief”.
Key facts about inheritance tax rules for farms
Under the new budget measures, farms valued at over £1 million which were previously excluded from inheritance tax, will now face a 20% tax rate starting from April 2026. This tax rate is set at half the typical 40% inheritance tax.
Ministers have stated that the actual threshold for paying inheritance tax could be as high as £3 million, with one exemption for each partner in a couple and the farm property is considered.
According to the Treasury, 27% of estates receiving Agricultural Property Relief (APR) were above the £1 million threshold in the year 2021-2022, suggesting that nearly 75% of farms would be exempt. However, the NFU disagrees with this figure.
What does Tom Bradshaw say about inheritance tax?
As reported by Sky News, Tom Bradshaw said one year ago that Environment Secretary Steve Reed had promoted a future Labour government that would not change the inheritance tax relief for farmers.
Mr Bradshaw said, “This industry has been betrayed. They said they wouldn’t make this change, and suddenly they’ve gone ahead and done it. There’s a whole generation that have … been betrayed”.
“The foundations of the numbers behind it are questionable. Even Defra and the Treasury can’t agree on them”.
He added, “When we look at the human impact of this policy, they’ve designed a policy which has got the elderly generation in the twilight of their careers, absolutely in the centre of this policy, with no way to plan for it. They’ve given everything to this country to produce the food the country needs, and they can’t plan their way through it. That is simply unacceptable”.
“For ministers to stand up and say this is good for farmers like me, for agriculture, they are chucking petrol onto a rather hot fire at the moment”.
He argued that NFU does not endorse food blockading but emphasized that the organization understands the reasons behind the farmer’s anger.
London protest against inheritance tax rise
Thousands of British farmers are ready to protest outside parliament on Tuesday in London with banners, bullhorns, and toy tractors to voice their opposition to a rise in inheritance tax which they claim will “hammer blow” to struggling family farms.
The NFU has gathered 1,800 of its members in London for a mass lobbying of Members of Parliament.
What do organizers say about protest?
Olly Harrison, co-organizer of a protest said, “Everyone’s mad” and the protest aimed to flood the street outside Prime Minister Keir Starmer’s office with farmers. “want to take to the streets and block roads and go full French” he added.
Organizers have requested that protesters avoid bringing farm machinery to central London on Tuesday. Instead, children riding toy tractors will lead a march around Parliament Square following a rally that will include addresses from speakers like “Top Gear” host and celebrity farmer Jeremy Clarkson.
Staffordshire farmer and co-organizer of the protest, Clive Bailye told media that the event was intended to be peaceful and had strong public support.
He added, “They are at a point now where they have nothing to lose and they have got the infrastructure behind them to be able to cause a lot of problems”.
Environment Secretary Victoria’s Stance on farm tax
She said the Labour government had delivered a “budget of broken promises” that was “killing British farming”.
During BBC’s Today Programme she stated, “Farmers can be asset rich, but cash poor. They are not in it for the money – it’s a 365 day responsibility”.