Ministers will be forced to U-turn on their inheritance tax raid when the human impact becomes clear, the boss of a farming union has warned. Thousands of food producers marched through London on Tuesday to protest against Rachel Reeves’s October Budget.
Tom Bradshaw, the President of the National Farmers Union, said: “I don’t believe Sir Keir Starmer or Rachel Reeves can live with the policy as it is today.
“I genuinely believe that when we see those human impacts really playing out in months to come, I don’t believe any Prime Minister can have that on his head. To me, if they’re human, they will have to make those changes we’re asking for. If they’re not, then it becomes a much bigger concern.
“I worry we haven’t met the Chancellor but she’s not even meeting her backbenchers. At the moment, she’s absolutely locked down on this policy. She clearly thinks we’ll go away. What we’re seeing here today is that the industry won’t go away.”
Farmers brought combine harvesters and tractors worth around £2million to the “Pancake Day Rally” to highlight the equipment needed to make the recipe on Shrove Tuesday.
Reform UK leader Nigel Farage: “It’s pancake day. It’s all about food security and food production. The farmers are making a point that it actually costs money to produce the content of a pancake but it’s obviously part of a much bigger campaign which isn’t just about farmers anymore. It’s becoming bigger than that.
“It’s becoming about the rural communities and the impositions which are being put upon them. There’s a complete lack of comprehension about who they are and how they live from central government. It’s very much from an urbanised Labour Party that almost has no connection with the countryside.”
Cousins Monty and Doug, both 12, joined the protest to “stand up against the family farm tax. The third generation arable farmers, from Banbury, said the Chancellor’s inheritance tax changes would “massively impact us”.
The Chancellor in October announced that from April 2026, combined agricultural and business property assets up to £1 million will still receive 100% relief but anything above that will be taxed at an effective rate of 20%.
The Daily Express’s Save Britain’s Family Farms crusade has demanded a U-turn.
Ministers rejected farmers’ concerns over inheritance tax changes and insisted the reforms are a “fair way to raise money”.
Treasury Minister James Murray said he spent time meeting with farmers’ representatives and listening to their concerns, telling the Commons: “We have to be honest that we disagree.”
He added: “As I’ve made clear to other MPs, the changes to agricultural property relief are a fair way to raise money which is necessary to balance the public finances. Britain has excellent food security and that is a priority for this Government.”
A Government spokeswoman said: “Our commitment to farmers remains steadfast.
“This Government will invest £5 billion into farming over the next two years, the largest budget for sustainable food production in our country’s history. We are going further with reforms to boost profits for farmers by backing British produce and reforming planning rules on farms to support food production.
“Our reform to Agricultural and Business Property Reliefs will mean farmers will pay a reduced inheritance tax rate of 20%, rather than the standard 40% for other businesses, and payments can be spread over 10 years, interest-free. This is a fair and balanced approach, which fixes the public services we all rely on, affecting around 500 estates a year.”
