Family farms will be “annihilated” by tax change unless scrapped, warns Bucks MP
The Conservative party held its food and farming emergency summit at a farm just outside of Aylesbury yesterday
A Buckinghamshire MP is warning that family farms will be ‘annihilated’ by changes to inheritance tax, which will risk food security.
It comes after the Tory party held its food and farming emergency summit at a farm just outside of Aylesbury yesterday.
The party proposed a ‘farming rescue package’ where they vowed to scrap the changes to Agriculture Property Relief (APR), cut red tape by reviewing every one of DEFRA’s arm’s length bodies and cutting energy bills.
The Conservatives say these policies are “designed to halt the decline in British farming under Labour”.
“The family farm tax will absolutely annihilate them”
Greg Smith, Conservative MP for Mid Buckinghamshire said: “90% of the landmass of my constituency is agricultural land and farmers are really hurting right now. Whether it's family-owned farms who look down the barrel of having to sell up to one-third of their farm or a 40-year loan to just pay the inheritance tax bill, the family farm tax will absolutely annihilate them.”
“That is a food emergency. We're already at only at 60% self-sufficiency in this country. If the current government carry on the way they're going, we're going to absolutely lose what they used to call national security - food security”, he added.
The Buckinghamshire MP also said: “Family farmers are scared. I don't use that term lightly… they are scared for the future of their farms and what they're going to be able to leave to their children and grandchildren for generations to come.
“Our land is genuinely at risk here and it won't be other farmers that buy this land if they have to sell it; it will be developers and then our food producing land, our countryside, our natural beauty, is gone forever.
“The message is very simple. Scrap the family farm tax, scrap the changes to family businesses, the BPR and APR changes that they made.
“It's having a real impact of human misery, it is having a real impact of destroying business, of destroying food production.”
An HM Treasury spokesperson said: “We’re backing British farms with £1 million Annual Investment Allowance for plant and machinery investments, billions for sustainable food, and action to cut EU export costs.
“Right now, 40% of Agricultural Property Relief – worth £219m - goes to just 117 estates. Our reforms will channel that funding into vital public services.”