More than 100 businesses, retailers and trade bodies across the food and farming supply chain, including the NFU, have written to the Prime Minister urging him to rethink planned changes to inheritance tax.
With just over a week to go until the Budget, the open letter to Sir Keir Starmer outlines how the tax will impact thousands of working people running family farms.
NFU President Tom Bradshaw said: “Over the past 12 months, I have never known such an outpouring of anger and frustration from all sectors of the farming industry and wider supply chain to this unjust policy.
“It has been evident the Treasury does not understand farming and has remained intransigent in its position despite many calling for change. As we have repeatedly pointed out, the policy as it is, is anti-growth. It is stopping businesses and farms from investing and will leave many farming families forced to sell all or parts of their business to afford these horrendous future tax bills.
“There is such a strength of feeling as demonstrated by 107 businesses, retailers and trade bodies from across the food and farming supply chain that have signed this letter to Sir Keir Starmer.
“It is not too late to make changes which will raise the money the government needs while safeguarding the future of family farms.”