Record number of farms close in wake of ’tractor tax’ raid
New figures, Rachel Reeves’in inheritance tax after the raid of a record number of farms were closed.
According to the National Statistics Office, a total of 6,365 agriculture, forestry and fishing enterprises closed last year, three -month data were first published in 2017.
Chancellor encountered an angry response in the decision to expand the inheritance tax that warns critics about death struggling for family farms in the UK.
Shadow Environmental Secretary Victoria Atkins said that the latest figures show that the farm closing was the result of the “disaster tax policies of the Labor Party”.
Tom Bradshaw, President of the National Farmers’ Association, said confidence in the sector is “rock bottom”.
“This creates this constant emotion where the industry is not valued and the value of the country is not recognized.
Victoria Vyvyan, President of the Country Land and Business Association, said that rural enterprises are “pushed aside”.
“Farmers who try to modernize or diversify are blocked by a government that talks about growth while drawing the foundations under the bureaucracy, national insurance rise,” he said.
“Nevertheless continues. New businesses are opening. People are holding. But Grit is not a strategy.
Changes mean that farms with £ 1 million or more will be responsible for a 20 percent inheritance tax.
The Treasury says that with tax allowances, only farms worth only £ 3 million will be affected and only 28 percent of family farms will be affected. However, 66 percent of the official Defra figures can be shot.
Thousands of farmers brought Westminster to stop when he landed in the capital to express his opposition to change in November.
Environment, Food and Rural Affairs Department spokesman said: “Our commitment to agriculture and food safety is determined and the agricultural profit in the UK increased £ 1.6 billion last year.
He said: “We reduce the costs and bureaucracy for food producers to export to the EU, former NFU President Barones Minette dough to propose reforms to increase the profits of farmers, and farmers in our schools, hospitals and prisons, we provide a greater share of food contracts.”
