Chancellor Rachel Reeves has met with representatives from the National Farmers' Union (NFU) to discuss pressing concerns over potential inheritance tax reforms. The meeting comes amid fears that changes to the tax system could disproportionately impact family-run farms across the UK.
Key Discussions
The NFU raised alarms over how proposed inheritance tax adjustments might threaten the viability of multi-generational farming businesses. Many farmers rely on passing down land and assets to keep operations running, and reforms could disrupt this delicate balance.
Reeves' Response
While the Chancellor did not commit to specific policy changes, she acknowledged the unique challenges faced by the agricultural sector. Reeves emphasised the need for a fair tax system that supports both economic growth and rural communities.
Why This Matters
Agriculture contributes significantly to the UK economy, and family farms form its backbone. Any tax reforms must carefully consider their impact on food security and rural livelihoods.
The meeting signals the government's willingness to engage with stakeholders before finalising any tax policy changes affecting this crucial industry.
