We have no doubt that the future of UK farms is at risk from the proposed changes to APR and BPR.
In addition to other inflationary policies such as the rises to employers’ National Insurance and the National Living Wage announced in the Autumn Budget, this tax has put intolerable pressure on allied industries.
Speaking at LAMMA last month, NFU President Tom Bradshaw said: “Just as family farm businesses stand to be crippled by this tax, businesses within the wider agricultural space may soon find themselves under crushing pressure too.
“Farm businesses are often the bellwether of the rural economy and many have curtailed investment on their farms because any penny they had or could have borrowed will now have to go on saving the future of the farm.”
It has come as no surprise that the wider agri-food sector and allied industries are also questioning the impact of last October's Budget.
Independent analysis
Analysis commissioned by the NFU shows that 75% of farm businesses could be impacted in some way by the family farm tax. This data along with new data from CBI Economics showing that the changes to BPR could lead to more than 125,000 job losses means that companies are coming together to urge the government to reconsider the policy.
Find out more about what was said and to see other allied industry support read Agricultural industries unite against family farm tax at LAMMA.
“From builders, vets and feed merchants, to fencers, machinery dealers and tool manufacturers, there’s been talk of calls drying up and order books looking sparse for the year ahead.”
NFU President Tom Bradshaw
