Tuesday, 02 January 2024 12:17 GMT

Tractors jam central London in great agricultures’` demonstration


(MENAFN) Tractors blocked central London on Monday as British farmers rallied against the government's planned changes to inheritance tax laws, which they say could drive many family farms into bankruptcy. The policy, set to take effect in April 2026, will remove a longstanding exemption for family farms, meaning agricultural assets valued over £1 million ($1.24 million) will be subject to a 20% inheritance tax when passed down to heirs.

The protest, organized by Save British Farming, coincided with a debate in Parliament over an e-petition signed by nearly 151,000 people, calling for the preservation of the current inheritance tax exemptions for working farms. Political commentator Katie Hopkins highlighted that the farmers' rally wasn't about seeking subsidies, but about protecting the ability to pass down family farms to future generations and ensuring food security.

Protestors drove their tractors to Westminster, honking and holding signs with slogans like “We all need a farmer,” “Food security first,” and “Let’s stand together.” Farmers emphasized that their land isn’t a tradable asset, but a crucial resource for growing crops and raising livestock, making the proposed tax unmanageable.

Tom Bradshaw, head of the National Farmers Union, stressed that farmers were willing to pay taxes, but not on the death of farm owners, which he described as "unaffordable and unacceptable." Prime Minister Keir Starmer defended the new tax in November, claiming that most farmers would be exempt and that the government’s tough decisions were necessary to stabilize the economy.

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