Serving the farming industry across East Anglia for over 40 years
Planned changes to inheritance tax relief could help landowners and tenant farmers – but the government still lacks a coherent vision for agriculture as... Budget changes not enough for farming

Planned changes to inheritance tax relief could help landowners and tenant farmers – but the government still lacks a coherent vision for agriculture as a whole.

Proposals included in last month’s Spring Budget (see pages 4 and 60) would see agricultural property relief from inheritance tax extended to cover land in environmental land management – something which could encourage more farmers producers to join the new agri-environment scheme.

Analysts say the move will provide farmers with greater confidence that changes in land use will not put their tax status at risk – and they won’t be penalised for helping to tackle the twin challenges of climate change and biodiversity loss.

The Country Land and Business Association and the Tenant Farmers Association have both argued that agricultural property relief should be changed. And both organisations – representing landowners and tenants – have welcomed the proposal.

A public consultation is now under way. But this was not a Spring Budget that will more broadly help secure a future for UK agriculture or food production.

Despite global geo-political uncertainty – including the war in Ukraine – there is still no government plan to strengthen UK food security – a key issue highlighted repeatedly by NFU president Minette Batters.

Ag-inflation remains high – and so too do consumer food prices. Despite easing slightly, high input costs still threaten to render food production unprofitable, with growers in some sectors already curtailing output.

Energy prices are also prohibitive when it comes to ramping up production – with struggling farm businesses needing more support and certainty to keep people fed affordably during the cost of living crisis.

If the government wants a future for farming, it must take agriculture more seriously – and recognise the importance of domestic food production – not just for the thousands of family farms across the country, but for the benefit of UK consumers too..

Johann Tasker

Editor