North Walsham farmer tells Lib Dem leader about tax change fears
A Norfolk farmer said forthcoming changes to inheritance tax could be "potentially career-ending" for him, as he hosted Liberal Democrat leader Sir Ed Davey at his farm.Chris Blaxell, who is based near North Walsham, spoke about the "devastating" issue with the leader and fellow North Norfolk Lib Dem MP, Steffan Aquarone.Davey said: "They're really on their knees - the last thing they need is this inheritance tax change."Sir Keir Starmer, who spoke to BBC Look East last week, said: "These are political choices, but what you can't have is the interest rates coming down; the growth we need in the economy; the waiting lists coming down and maintain the tax breaks for farmers."
Davey travelled to Mr Blaxell's farm, where he has 300 acres (121 ha) for crops and cattle, on the same day the National Farmers' Union met Treasury officials to ask them to rethink the tax.The government said the changes - that could see 20% levies on any land worth more than a £1m - would go ahead in April 2026, as the UK's finances needed stabilising.
Mr Blaxell is a partner in his farm alongside his mother and father, who inherited the site from his father."Traditionally, farmers die with their boots on and they don't ever really stop and as a generation passes, I pick up their reins," said Mr Blaxell."For me, it's potentially career-ending after 40 years. "Although I'm given 10 years to repay that 20%, the returns from farming - by the time I've made my profit and paid the income tax - there wouldn't be enough money left to pay the inheritance tax."
Davey said: "I'm actually quite angry on behalf of farmers across the country - the Treasury just doesn't get it."I've been hearing about the struggles and hard work they have to put in and this, frankly, could end this farm if the government proceeds."
Last year, the prime minister told MPs the "vast majority" of farmers would not be affected by the inheritance tax changes.However, Conservative leader Kemi Badenoch described it as a "cruel family farms tax" and vowed to reverse it.
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