Farmers from across Northern Ireland are expected to flock to a rally today to oppose the Labour government’s changes to inheritance tax.
It comes as one of the world’s most iconic rural brands throws its support behind farmers furious at the new rule changes, saying it’s essential that we “look after the people who feed us”.
Ahead of a huge farmer protest expected in London on Tuesday in what is already being dubbed “rural England’s revolution”, French-based tractor producer Massey Ferguson has become the first international manufacturing firm to weigh into the debate that kicked off in the wake of Labour’s first Budget where Rachel Reeves imposed a new tax on family farms.
The ‘Ferguson’ in the manufacturer’s name is Harry Ferguson, the late Co Down mechanic and inventor renowned for his role in the development of the modern agricultural tractor.
The row has erupted over new taxes for farms worth more than £1m.
Treasury data shows that around three-quarters of farmers will pay nothing in inheritance tax as a result of the controversial changes. However, farmers point to other government figures suggesting 66% of farms are worth more than the £1m threshold at which inheritance tax will now need to be paid.
Massey Ferguson’s UK, Ireland and Middle East sales promotion manager Lindsay Haddon agreed the company “of course” held concerns about the impact of the new tax on farmers.
“We have a vested interest in seeing family farms continue, generation after generation, after all we wouldn’t be here if it wasn’t for these guys,” Ms Haddon said.
“More than anything though, we all have to eat! And we know, food is precious so we look after the people who feed us.”
On Saturday, unhappy farmers gathered with tractors outside the Welsh Labour conference venue in protest. More than 50 vehicles massed near the conference centre in Llandudno on Saturday morning, with campaigners claiming the “tractor tax” will mean the end of many family farms.
The Ulster Farmers’ Union (UFU) has called on the agricultural community “to stand together in a show of unity at a rally to overturn family farm tax” at the Eikon Exhibition Centre today.
UFU president William Irvine said: “This is a direct threat to the sustainability of our family farms and the livelihoods of over 24,000 farming families across Northern Ireland.
“This change impacts not only our farm businesses but also the generations who will inherit and care for the land.
“We cannot stand by as these decisions are made without our voices being heard.”
National Farmers’ Union President Tom Bradshaw yesterday said farmers are feeling “betrayed” about changes to inheritance tax, but made clear that he does not condone halting supplies of food to supermarkets in protest.
He told Sky News: “We have a government saying food security is a critical part of national security, yet they’ve ripped the rug out from that very industry which is going to invest in food security for the future.”
A Treasury spokesperson said: “Around 500 claims each year will be impacted and farm-owning couples can pass on up to £3m without paying any inheritance tax — this is a fair and balanced approach.”