UPDATE: A significant backlash is erupting as Labour’s recent U-turn on inheritance tax has left farmers feeling betrayed. The party’s decision to raise the threshold for 100% relief on agricultural assets from £1 million to £2.5 million, effective April, is seen as a temporary fix that fails to address the core challenges facing the farming industry.
Philip Weston, a 40-year-old farmer from Northamptonshire, voiced his frustration, stating the revised policy merely delays an inevitable financial burden. “This change will help him a lot initially, but ultimately only push us back into the danger zone,” he emphasized. Currently, approximately 2,000 farms are impacted, but that number will drop to around 1,100 under the new policy.
The announcement follows a review into farm profitability, which urged a “new deal” for agriculture to recognize the true costs of food production. Yet, Weston argues that the policy is a “smokescreen” designed to mask the government’s inability to provide lasting support. “Everything Keir Starmer does seems reactionary, not based on real analysis,” he added.
Weston, who now manages Hartwell Park Farm, inherited the family business after his father’s passing three years ago. He has already incurred substantial legal costs, anticipating a tax bill of £200,000 after his mother’s death. The emotional weight is palpable as he reflects on the future of his farm, established in 1820. “Once family farms are gone, they’re gone. If I can’t make this work, how will new farmers survive?” he questioned.
The farming community’s concerns are echoed by the Daily Express and the National Farmers’ Union (NFU), with warnings that rising costs and low produce prices could cripple family farms. NFU President Tom Bradshaw described the policy amendment as a “huge relief,” but cautioned that it should not be seen as an all-clear. “Many estates will still fall within the scope of these changes,” he warned.
Labour’s concession has drawn criticism from various political leaders. Conservative leader Kemi Badenoch stated, “the fight isn’t finished,” while Liberal Democrats’ spokesperson Tim Farron urged the party to scrap the “unfair tax in full.”
Authorities confirm that the ongoing economic pressures have caused a surge in UK farm closures, with a record 6,365 agriculture, forestry, and fishing businesses ceasing operations by June 2025, the highest since records began in 2017. Farmers fear that this latest tax policy will only exacerbate the crisis.
Environment Secretary Emma Reynolds has assured farmers of her commitment to support the industry, stating, “Farmers are at the heart of our food security.” However, the farming community remains skeptical about the government’s sincerity and effectiveness in implementing long-term solutions.
As the situation develops, farmers like Weston are rallying for a complete abolition of the inheritance tax, arguing that it threatens not only their livelihoods but also the very foundation of Britain’s food security. “We have to keep fighting,” he declared, underscoring the urgent need for a more stable and supportive agricultural policy.
This is a developing story. Stay tuned for further updates as more reactions pour in from the farming community and government officials.
