A Conservative councillor in Oxfordshire is urging the counties MPs to back the scrapping of the “vindictive” changes to inheritance tax (IHT) on farms, as the Conservative Party prepares to bring a vote on the issue in Parliament.
Conservative MPs are set to use their opposition day debate on Wednesday 4th December to insist Parliament hold a vote on Labour’s controversial move for farmers to pay more IHT on land.
In Chancellor Rachel Reeves’ first Budget, she announced plans for changes to agricultural property relief (APR) and business property relief (BPR), which the Conservatives say could see farming families face tax bills of up to millions of pounds.
Oxfordshire County and District Councillor Liam Walker said: “Labour’s vindictive family farm tax threatens to destroy British farming as we know it and will hit farmers across Oxfordshire and the country. On Wednesday our MPs in Oxfordshire have a choice to make. Will they vote to axe the tax, and save the family farm? Or will they turn their backs on rural communities and back this damaging policy.”
Figures from the National Farmers Union (NFU) suggest that three quarters of farmers will be affected.
Analysis by the Country Land and Business Association (CLBA) suggests the average 250 acre arable farm will have to sell 20 per cent of its land to pay this new IHT bill.
Cllr Walker continued: “Two weeks ago thousands of farmers descended on Westminster to try and make the government listen. So far, they’ve refused. Labour and Lib Dem MPs now have a chance to back British farming as will County Councillors when we bring forward a motion on scrapping this inheritance tax to our full council meeting next week.”
Sign our petition to scrap the Family Farm Tax here: stopthefarmtax.com
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