Irwin slams Labour on inheritance tax changes

Mr Irwin said the reforms for assets over £1m, where inheritance tax will apply at 20%, would be massively damaging for farming right across the United Kingdom.

Mr Irwin added: “The Labour Chancellor Rachel Reeves has delivered a massively damaging outlook for farming in to the future and I simply cannot understand the logic behind this decision, especially given what this will mean in real terms for thousands of farmers across the United Kingdom.

“What is more infuriating is that this decision has been taken by the Labour Government despite previous assurances that such a move would not be considered and after significant lobbying by farming representative groups and MPs. The Chancellor is very well aware of what this decision will mean for farming in the UK yet she has still pressed ahead with this highly damaging move.”

He added: “The Labour Government since coming to power has set itself on a deliberate collision course with business and it is alarming that such short sightedness is continuing with this ridiculous decision.”

Mr Irwin concluded: “There must be a collective rejection of this policy and it is absolutely imperative that the Labour Government reverses this decision. The situation whereby farming families are facing colossal inheritance tax bills when simply trying to sustain farming in to the future is a highly regressive and damaging policy for any government to pursue. If allowed to happen this will negatively impact food security in the UK and have massive implications for the environment.”