Martin Daubney fumes at Lab0ur’s latest ‘cruel’ inheritance tax raid as Rachel Reeves looks to plug the UK deficit |
The Treasury is not going to budge on its ‘𝘋𝘦𝘢𝘵𝘩 tax’, a Lab0ur Minister admitted
Lab0ur has confirmed that the G0vernment will not U-turn on Rachel Reeves’ wildly controversial inheritance tax raid on farmers.
Farming minister Dame Angela Eagle announced today that the Treasury “isn’t going to move” as speculation begins to mount on a potential reversal of the “tractor tax”.
Since its first announcement in the Chancellor’s 2024 October Budget, family farmers up and down the nation have rallied against the tax.
And, with the next Budget creeping ever closer, farmers had hoped that smaller estates might be excluded in an amended version of the tax hike.
The original hope was that the 20 per cent tax on agricultural estates would be raised from £1million to £5million, and £10million for married couples.
For almost a year now, the farming community has been up in arms about its future as the new taxes could leave their farms unviable after families would be forced to sell of land, livestock and equipment to foot the bill.
“Despite some of the speculation in the press, there’s no likelihood that will happen,” Dame Angela clarified, nipping any rumours in the bud.
“The announcements have been made and the situation will be as it was announced.
“But remember that three-quarters of estates will continue to pay no inheritance tax at all, while the remaining quarter will pay half of the inheritance tax that most people pay.”
“I’m afraid there aren’t going to be any changes with respect to the announcement that were made previously about inheritance tax, in this instance,” she told BBC’s Farming Today podcast.
“We have been in discussions, the Treasury have made their announcements and they aren’t going to move.”
Hitting out at Lab0ur’s refusal to budge, deputy chief of Reform UK blasted: “This G0vernment doesn’t care about British farmers, British food or our country’s food security.
The Budget will be delivered by the Chancellor on November 26
“It’s no surprise that they are pressing on with the family farms tax, which has brought the farming sector to its knees,” he told The Express.
“Inheritance tax as a whole is little more than a 𝘋𝘦𝘢𝘵𝘩 tax on grieving families. Reform UK would put an end to this form of double taxation on farmers and families altogether.”
The farmers’ fight against the policy has been a long-fought battle.
Since its announcement, the community has banded together to protest the “𝘋𝘦𝘢𝘵𝘩 tax” with farmers flocking to Westminster – with their tractors.
Protesters congregated in Westminster to demonstrate against Digital IDs and inheritance tax
Earlier this year, Lab0ur managed to U-turn on major G0vernment policy three times already.
In January, Sir Keir Starmer’s administration backtracked on the winter fuel payment that impacted million of British pensioners.
Five or so months later in June, Lab0ur spun around on their refusal to hold a national inquiry into the grooming gangs scandal gripping the nation.
Later in July, his party decided to U-turn on their decision to cut welfare spending after enduring the efforts of persistent campaigners and unhappy MPs.
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