Bradley Thomas MP has reiterated his strong opposition to the Government’s changes to inheritance tax (IHT), warning of serious consequences for family farms and rural businesses across Bromsgrove and the Villages.
The changes to Agricultural Property Relief and Business Property Relief came into effect yesterday (April 6th). This is despite the Government promising farmers before the General Election that they would not touch the reliefs. Yesterday, that broken promise officially came into effect.
For the past 17 months, Bradley has consistently opposed the Family Farm and Family Business Taxes in Parliament. On seven separate occasions, he has voted in the House of Commons to scrap the measures entirely - each time opposed by the Government.
Whilst the actions of Bradley alongside farmers forced a welcomed partial u-turn, Bradley has warned the Government should have listened to their called to scrap the changes entirely.
The Government’s broken promise to farmers means 249 agricultural holdings in Bromsgrove and the Villages are now facing deep uncertainty, with many fearing they may be forced to sell or break up long-standing family farms in order to meet inheritance tax liabilities.
This comes at a time when farmers are facing increasing costs in fuel and fertiliser driven by the conflict in the Middle East whilst staring down further tax hikes being imposed on them by the Government. 50,000 farms will be affected by the Government’s Fuel Duty hike to red diesel making food production more expensive and this will only be exacerbated further by the Government’s Fertiliser Tax.
This is why, in addition to axing the Family Farm and Family Business Taxes, Bradley will continue to oppose the Fertiliser Tax and Fuel Duty hike, protecting our food security and backing British farmers.
Bradley said:
“This Government just doesn’t get rural communities. If they did, they would never have introduced the hated Family Farm Tax which I’ve voted against at every opportunity in Parliament.
“I am on the side of our rural communities, and I will continue to oppose the Government’s Family Farm and Business Taxes. Farmers across Bromsgrove and the Villages who work long hours to produce food for the nation deserve better.”
