It’s time to break the inheritance tax log jam

We all know that the Chancellor is not going to back down on the principle of the decision that she made last autumn. This leaves only one option on the table: the raising of the threshold at which inheritance tax kicks-in. But it’s in this context that the leadership of the Ulster Farmers’ Union (UFU) could find itself in a bit of bother. What might constitute an acceptable deal for Northern Ireland, on the back of our smaller farm size, could still remain anathema, for farmers in England, Wales and Scotland. So what happens to the principle of unity across the family of UK’s farming unions in such circumstances? Next week could tell an interesting story in this regard. But the issue of money aside, the farm body representatives attending next week’s summit must get some form of official recognition from the Chancellor as to what constitutes a farm family. And if this can be achieved, the immediate follow-on is that such businesses will always be exempt from the scope of inheritance tax.

Meanwhile there are much bigger fish to fry within the world of agri politics closer to home. A case in point is the repeated attempts by agriculture minister, Andrew Muir to characterise the ring fencing of a frozen farm support budget as an extremely positive initiative on the part Stormont Executive. But in reality, the polar opposite is the case. And every farmer in NI is fully aware of this fact.

The UFU promised a future farm support budget that would, at the very least, be inflation proofed into the future. The organisation must deliver on this commitment. The days are over when farming leaders from Northern Ireland had to get on a plane to discuss agricultural policy matters in London and Brussels. Now, all that’s required to make any of this is a quick car journey up the road to Stormont. It’s time local politics become the ‘art of the possible’ for farmers across NI.