Latest news with #ChangeYour
Yahoo
10-02-2025
- Business
- Yahoo
Farmers protest live: Tractors set to flood London in second rally against Reeves's Budget proposals
British farmers are set to descend on Whitehall for the third time in four months as they demand the government rethinks its inheritance tax plan. Protesters are due to arrive in central London in their tractors at 1pm for the demonstration, organised by Save British Farming (SBF). The march is called 'Change Your Tune, Starmer'. Previous protests have seen thousands of tractors and tens of thousands of demonstrators moving through the capital. They are marching against chancellor Rachel Reeves's decision in her Budget to extend inheritance tax to agricultural land. Liz Webster, the founder of SBF, accused Ms Reeves of ensuring that the UK is 'marching into a food crisis'. Industry leaders will address the crowds in Whitehall at 3.15pm. The speakers include National Farmers Union Tom Bradshaw and celebrity farmer Gareth Wyn Jones. Country Land and Business Association deputy president Gavin Lane, who will be among the speakers taking to the stage, said: 'The government is hoping we'd move on, but these are our livelihoods we are defending. 'This issue will haunt them until they see sense. The case against these tax reforms is only growing stronger, and we are working to bring the whole of British industry together for the common good.' Farmers vow to 'haunt' government until change enacted Pictured: Farmers and their tractors in north London What are the changes to farm tax? 09:36 , Holly Evans The National Farmers Union, which has organised previous protests, said it supported any of its members taking part. NFU President Tom Bradshaw said: 'The strength of feeling around the proposed family farm tax is still incredibly high. 'We support any members who want to take part in other respectful and lawful demonstrations which work towards our aim to stop the family farm tax.' 09:17 , Holly Evans Speaking at Belmont Farm in North West London, Nigel Farage has called for the end of 'death taxes'. The Reform UK leader has been a vocal opponent to the inheritance tax rate on farms since it was announced in the October Budget. On stage at a gathering of the group Farmers to Action, he said: 'No to death taxes full stop. End death taxes. They are wrong. They are immoral at every level.' 09:00 , Tom Watling According to the National Farmers Union, while farms may have a high nominal asset value – the value of their land and business assets – the returns from farming are often very low, so farming families may not have the reserves to pay for inheritance tax liabilities without selling off assets. The NFU's president Tom Bradshaw said the change had left elderly farmers in the 'cruellest predicament', as they may not live for another seven years to take advantage of exemptions for gifting assets, or to hand over assets in a way that qualifies for the gifting exemption. He has also warned the changes could undermine investment as farmers will be wary of increasing the balance sheet as they will be liable to pay inheritance tax on it. There are also concerns that it could affect tenant farmers if landowners no longer benefit from having a tax exemption for farmed land. Mr Bradshaw said there was a feeling among farmers that the Government did not understand food production. 08:44 , Holly Evans Reform UK leader Nigel Farage joins farmers and their tractors at Belmont Farm in north London. The rally in Westminster over the changes to inheritance tax (IHT) rules in the budget is set to take place later today. 08:29 , Holly Evans Every major British supermarket has turned on Sir Keir Starmer over his tax-hiking Budget, warning the raid on family farmers will put food supply chains at risk. Tesco, Sainsbury's, Morrisons and Asda are among the supermarket giants signed up to a damning letter warning over 'the long-term stability of the nation's food resilience'. Lidl, Aldi, Co-op and Marks & Spencer have also signed the letter calling for the 'abhorrent' tax raid, to be dropped. Read the full article here: Every major supermarket turns on Starmer over tractor tax 08:14 , Tom Watling Previously, farming businesses qualified for 100 per cent relief on inheritance tax on agricultural property and business property. But now the tax is being imposed on farms worth more than £1 million, with an effective tax rate of 20 per cent on assets above the threshold, rather than the normal 40 per cent rate for inheritance tax. The Government says that the actual threshold before paying inheritance tax could be as much as £3 million, once exemptions for each partner in a couple and for the farm property are taken into account. 08:05 , Holly Evans Farmers and their tractors at Belmont Farm in north London, ahead of a rally in Westminster over the changes to inheritance tax (IHT) rules in the budget which introduced new taxes on farms worth more than £1 million. 07:45 , Tom Watling Farming groups have vowed to 'haunt' the Labour government until they reverse plans to extend inheritance tax to agricultural property. Country Land and Business Association (CLA) deputy president Gavin Lane, who will be among the speakers taking to the stage on Whitehall for today's protests, said: 'The government is hoping we'd move on, but these are our livelihoods we are defending. 'This issue will haunt them until they see sense. The case against these tax reforms is only growing stronger, and we are working to bring the whole of British industry together for the common good. 'We are delighted to be supporting the rally on Monday and thank everyone involved, and the public, for their backing.'
The Independent
10-02-2025
- Business
- The Independent
Farmers protest live: Tractors set to flood London in second rally against Reeves's Budget proposals
British farmers are set to descend on Whitehall for the third time in four months as they demand the government rethinks its inheritance tax plan. Protesters are due to arrive in central London in their tractors at 1pm for the demonstration, organised by Save British Farming (SBF). The march is called 'Change Your Tune, Starmer'. Previous protests have seen thousands of tractors and tens of thousands of demonstrators moving through the capital. They are marching against chancellor Rachel Reeves's decision in her Budget to extend inheritance tax to agricultural land. Liz Webster, the founder of SBF, accused Ms Reeves of ensuring that the UK is 'marching into a food crisis'. Industry leaders will address the crowds in Whitehall at 3.15pm. The speakers include National Farmers Union Tom Bradshaw and celebrity farmer Gareth Wyn Jones. Country Land and Business Association deputy president Gavin Lane, who will be among the speakers taking to the stage, said: 'The government is hoping we'd move on, but these are our livelihoods we are defending. 'This issue will haunt them until they see sense. The case against these tax reforms is only growing stronger, and we are working to bring the whole of British industry together for the common good.'
