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March 21, 2022
February 25, 2025
By Evans Momodu
1 minute read
Published 14:12 UK(GMT), February 25, 2025
Sequel to the UK Tax reforms, environment Secretary, Steve Reed received a hostile reception at the National Farmers' Union (NFU) Conference, as anger over the government’s inheritance tax changes overshadowed new policy announcements aimed at easing tensions with farmers.
Reed’s speech was interrupted by protesters holding banners in opposition to the planned 20% inheritance tax on farms valued over £1 million, set to take effect in April 2026.
Previously, farms were exempt from inheritance tax, making the new policy a significant financial burden on agricultural families.
While Reed acknowledged the frustration in the room, he remained firm, stating:
"I'm sorry, it's a decision that we have had to take."
Despite the inheritance tax controversy, Reed announced several policy incentives aimed at supporting farmers, including the five-year extension of the Seasonal Worker Visa program to ensure access to labour and boost farm profitability.
However, the measures were met with muted applause, as the inheritance tax issue dominated the discussion.
The UK farming community has criticised recent government policies, arguing that they threaten the financial stability of family-run farms. The NFU and other agricultural groups continue to push for a reversal of the tax policy, fearing its long-term impact on rural businesses and food production.
Source: Sky news