Lanarkshire MSP slams Chancellor’s “family farm tax” announced in the Budget

Central Scotland Conservative MSP Meghan Gallacher has strongly criticised the Labour Chancellor’s recent proposal for a “family farm tax” introduced in the Budget. Gallacher expressed concern that the changes outlined by Chancellor Rachel Reeves to agricultural property relief and business property relief will have a significant negative impact on family farms in the region. The National Farmers’ Union has also condemned the plans, labelling them as “disastrous” for the agricultural industry. The government has stated that the modification will affect approximately 2,000 estates annually.

Gallacher has taken action against the proposed tax by launching a petition on www.stopthefarmtax.com, urging Labour to reconsider their decision. She emphasised the importance of sending a strong message to Labour through this petition. The Conservative MSP highlighted Labour’s failure to uphold their previous commitment to farmers regarding agricultural property relief, citing a broken promise from the party.

In response to the proposed tax, Gallacher stated, “Labour’s family farm tax will be devastating for family farms in Central Scotland.” She criticised Labour for being detached from the agricultural sector’s needs, particularly at a time when farmers are already facing significant challenges. Gallacher called on the community to support the petition and stand up for the interests of farmers in the region.

The Chancellor’s intention to introduce a 20 per cent inheritance tax on assets over £1 million from April next year has raised concerns within the farming community. The change is perceived as a departure from the longstanding tradition of allowing farms to be passed on to the next generation without additional taxation. The National Farmers’ Union has expressed apprehension about the impact of the proposed tax on the industry, highlighting potential consequences for farm succession and food production in the region.

Despite the government’s assertion that it remains committed to supporting farmers and recognising their essential role in food production, stakeholders in the agricultural sector are urging for a re-evaluation of the proposed tax policy. The call for a revision of the tax underscores the importance of sustaining family farms and ensuring the continuity of agricultural practices in the region.

In conclusion, the backlash against the “family farm tax” proposed in the Budget reflects the concerns of stakeholders within the agricultural sector regarding the potential repercussions on family-run farms. The call for a re-evaluation of the tax policy underscores the need to prioritise the sustainability of family farms and safeguard the future of agricultural practices in the region.