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Farmers hit back over Chancellor's inheritance tax charge
Video Credit: ODN
Published 3 hours ago - Duration: 01:03s
Farmers hit back over Chancellor's inheritance tax charge
The chancellor appears to have a fight on her hands with Britain's family farmers.
In her Budget, Rachel Reeves closed a loophole to stop rich people investing in land to reduce their inheritance tax bills, penalising them with a new million pound tax threshold.
But farmers in Cirencester have labelled the move "demoralising" and the deputy president of NFU Cymru Abi Reader warns it will lead to "economic stagnation".
Report by Brooksl.
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Rachel Reeves
British politician (born 1979)
Rachel Reeves' changes to agricultural inheritance tax could lead to food price rises and will have a "catastrophic" impact on family farms, farmers have warned.
21 hours ago • Sky News
Budget
Balance sheet or statement of estimated receipts and expenditures
Social-networking service owned by Meta Platforms
Cirencester
Market town in Gloucestershire, England