LIVE: NFU mass lobby – stop the family farm tax

10am: We know that the last few weeks have been particularly difficult for farmers and growers.

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9:30am: NFU President Tom Bradshaw delivers his opening speech to a packed room of NFU members.

He says the Budget has been a “kick in the teeth”.

He asks the audience to tell MPs their stories “from the heart”.

Tom thanks everyone for all the support so far, saying “this is only the start”. He receives a standing ovation as he finishes his speech.

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9am: BBC News are livestreaming from Church House in Westminster where the NFU’s mass lobby is shortly due to kick off.

In an interview with BBC News, NFU President Tom Bradshaw said “there’s this huge sense of betrayal”.

“The impact on people in our industry has simply not been thought through. It’s an ill-conceived policy.

“It will not deliver for the food security agenda the Prime Minister says is so important.”

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8:30am: As part of its Autumn Budget on 30 October, the government announced it will change the rules for (IHT) Inheritance Tax, including APR (Agricultural Property Relief) and BPR (Business Property Relief) on farmland and business assets.

This means an effective tax rate of 20% on agricultural assets valued over £1 million – although there are other reliefs available that can also be used.

The new tax rules could force farmers to sell their family farms to pay the Inheritance Tax bill. This could happen even if they have worked on the farm for many years.

The Treasury has said 73% of APR claims are below £1 million and so would be unaffected by this policy. However, Defra’s figures show that only 34% of farms are under £1 million net worth.

For a quick breakdown, see NFU Director of Strategy Nick von Westenholz's thread on X:

In an attempt to throw some light on things…some thoughts on yesterday’s Budget announcement on Inheritance Tax Reliefs (APR/BPR) and farm businesses… (1/)

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— Nick von Westenholz (@nvonwestenholz) October 31, 2024

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8am: We'll be bringing you all the latest news and updates from the NFU's mass lobby of Parliament today. 

Not attending the mass lobby?

There are many ways you can get involved in the campaign to reverse the family farm tax:

1. Join more than 220,000 people who have added their names to our online campaign.
2. Use social media to explain the impact of the family farm tax on your business, tag your MP and use the hashtag #StoptheFamilyFarmTax.
3. We welcome all members who want to come to lobby their MPs with us. If you haven't planned your MP visit yet Find your MP and arrange to see them.

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