Ripon and Skipton MP Sir Julian Smith has urged the Prime Minister to reverse planned inheritance tax changes affecting family farms.
Sir Julian has signed a letter calling for changes to Agricultural Property Relief and Business Property Relief to be scrapped in this year’s Autumn Budget.
The letter, led by Shadow Environment Secretary Victoria Atkins and Shadow Scottish Secretary Harriet Cross, has been signed by Conservative politicians from across the UK.
It warns that farming is facing a “once-in-a-generation crisis” and claims more than 6,300 agricultural businesses stopped trading during Labour’s first year in government.
The signatories argue that farms are diverting money away from investment and growth to prepare for future inheritance tax liabilities.
Sir Julian said:
“Farming is at the heart of our communities across Skipton and Ripon. Our farmers work incredibly hard to produce food, support local jobs and sustain the rural economy.
“I am deeply concerned by the impact Labour’s Family Farm Tax is having on farming families. At a time when farmers are already facing significant pressures, imposing new inheritance tax burdens risks undermining family farms that have been built up over generations."
He added:
“The Government has repeatedly spoken about the importance of food security and supporting rural communities. Those words must now be matched by action.
“I have joined colleagues in urging the Prime Minister to use the Autumn Budget to reverse these damaging changes.
“Protecting family farms is essential not only for farming families themselves but for the future prosperity and food security of our country.”
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