“On the issue of changes to inheritance tax to working family farms, the majority of people are with us and believe this an unfair move,” said NFU President Tom Bradshaw in response to new polling data.
The results show that changes to inheritance taxation on family farms are unpopular, and that perceptions Labour does not value rural voters as highly as urban ones are building.
The polling, carried out by Portland only last week, indicates that two thirds (65%) of the public do not think that the government has fully considered the impact of its planned changes on family farms.
The data shows that the British public agree with the NFU, with only 27% supporting the family farm tax.
Other headline figures are as follows:
- IHT (inheritance tax) on farms is the joint most unpopular measure in the Budget, tied with changes to pensions.
- Two thirds (65%) of the public do not think that the government has fully considered the impact of its planned changes on family farms.
- IHT on farms is ranked the second least popular Budget measure among 2024 Labour voters. With 21% of the vote, it came only fractionally behind IHT on pension pots (22%).
- 49% of 2024 Labour voters think that either IHT on farms and businesses is unfair. Only 11% felt IHT on farms was among their most favoured budget measures.
- Only 17% of voters trust the Chancellor most to tell them about the impact of this policy on farms, with 52% trusting ordinary farmers to tell them the truth.
- 49% of voters think the government is biased against the countryside, with only 26% disagreeing
- IHT on farms is also at the bottom of things which are popular with the public – just 8% agree with it.
The polling was conducted via an online panel and saw 1,074 participants from a nationally representative sample of the UK public surveyed between 21 – 22 November 2024.
Data shows support for British farmers
NFU President Tom Bradshaw said he was not surprised by the data: “It shows the level of support for British farmers from people across the country. This is echoed with the 255,000 people that have so far signed our petition to Stop the Family Farm tax.
“From the work we have done with financial experts formerly of the Treasury and Office for Budget Responsibility, we know 75% of farms could be impacted by changes to APR and BPR.”
Read: An impact analysis of APR reforms on commercial family farms
“My message to government is clear – look at the evidence, stop this family farm tax and show your electorate you’re on their side.”
NFU President Tom Bradshaw
“While the two go hand in hand, for many working farms, the Treasury has chosen not to count this as part of its planned inheritance tax changes, therefore skewing the impact the changes will have, resulting in the confusion and uncertainty which has played out in the media in recent days,” Tom added.
In the days since the Budget, the NFU has repeatedly said to the Treasury and government that its figures justifying the family farm tax are wrong and will devastate family farms, putting many out of business.
The government suggests 27% of farms will be affected by changes to inheritance tax, namely APR. In sharp contrast, the NFU has demonstrated more farms will be impacted and has released data showing 75% of farms stand to be above the £1m family farm tax threshold.
‘Paper thin margins’
“But I am certain, as are the 1,800 NFU members that joined me on Tuesday for our mass lobby with more than 10,000 farmers on the streets of Westminster, calling on their MPs to back our demands to halt the current budget madness and to carry out an urgent and full review of the correct data and draw better conclusions,” Tom continued.
“Without this change, farmers will be forced to sell off parts or all their farm businesses to pay huge tax bills, with added cost for pensions. All this puts additional costs to food producing businesses which are already operating on paper thin margins.
“Together with changes to the National Living Wage and National Insurance, I can’t see a scenario where food prices don’t rise, at a time when the public have already been hammered by a cost-of-living crisis.
"My message to government is clear – look at the evidence, stop this family farm tax and show your electorate you’re on their side.”
