Commenting on Labour’s announcement to increase the threshold for agricultural property relief on the 17 December, James Wild MP said:
“Farmers have endured huge worry for over a year due to Labour’s cruel Family Farm tax and the Family Business tax. I’ve met farmers in tears with stress and worry at losing farms that have been in their families for generations.
Now following a sustained campaign and pressure from farmers backed by the public and and Conservative MPs the Labour government have finally done a major u-turn when Parliament is not sitting and increased the inheritance tax thresholds.
This panicked change comes after the Chancellor ruled out any changes in the Budget a few weeks ago.
While the increase limits the damage and is therefore welcome, it is not enough. The family farm tax should be scrapped.
“It is extraordinary for Labour MPs who repeatedly failed to vote against this tax to welcome the major climbdown by the Chancellor and Prime Minister. People won’t forget Labour’s cruel attack on rural areas.“
