The government has outlined plans to hold a technical consultation on the draft legislation, including on inheritance tax, to ensure it 鈥榳orks as intended鈥�.
This is a common process in the development of a Finance Bill, but given the appalling consequences of this legislation, the NFU will be holding the government to account on every element of this policy.聽
Responding to the publication of the draft Finance Bill today, NFU President Tom Bradshaw said: 鈥淎t the heart of this battle are the elderly farmers who have devoted their entire lives to growing food for the country and supporting their rural communities.
鈥淭hey should not become collateral damage.聽
鈥淲hen you undermine farm businesses, you undermine a vital part of our national infrastructure.鈥�
NFU President Tom Bradshaw
鈥淭o see them face such uncertainty, knowing the legacy they and their families have worked hard for and grown could be ripped away by this tax, is heartbreaking. I cannot begin to imagine the fear many must be feeling right now 鈥� their homes, their livelihoods and everything they鈥檝e worked for is under threat.鈥�
Your voices are vital
皇家华人President has spoken with the Prime Minister and Treasury Exchequer Secretary James Murray directly about the impact of the proposed changes to inheritance tax.
鈥淵et, despite our persistent efforts, Chancellor Rachel Reeves still refuses to meet us to discuss our alternative 鈥榗lawback鈥� proposal. The Treasury claims our solution will raise less revenue, but is refusing to release the modelling on how it came to this conclusion,鈥� Tom added.聽
鈥淭his issue goes far beyond farming. The food and farming sector supports millions of jobs, fuels our domestic food supply and contributes billions to the UK economy. When you undermine farm businesses, you undermine a vital part of our national infrastructure. If this legislation goes ahead, it will unquestionably have devastating and irreversible impacts on the country and it is so poorly designed that it will inevitably have to be changed in the future.
鈥淚 want to thank every one of our members who took the time to write postcards and letters to their MPs over the summer 鈥� your voices are vital. We continue to urge all farmers and the public to make their representations directly to their MPs to show first-hand the impact of this damaging tax.鈥�
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