Swann highlights missed opportunity for family farms in budget
South Antrim MP Robin Swann has criticised the Chancellor for once again missing the opportunity to tackle the damaging family farm tax head-on in the recent Budget, leaving rural communities feeling abandoned.
Mr Swann has asked the Chancellor what genuine commercial transactions will be recognised for a family passing their business down to the next generation, as farming families face mounting pressures from successive tax burdens.
Speaking on the challenges facing the agricultural sector, Mr Swann said: "For farming families across Northern Ireland, this Budget has once again represented a deeply disappointing missed opportunity to tackle the family farm tax head-on. Generations of hard work, investment and dedication are being put at risk by changes that threaten the very viability of multi-generational family holdings.
"The Chancellor must clarify what is meant by claims of continued support when rural communities feel abandoned yet again. Passing a farm down to the next generation is not merely a commercial transaction on paper. It is a way of life, a commitment to the land and the foundation of our rural economy.
"I have asked the Treasury directly to define what genuine commercial transactions will be relevant for a family passing their business down to the next generation. Our farming community deserves certainty, fairness and a Government that understands the unique structure of agricultural businesses rather than penalising family farms."