‘They’re killing the hand that feeds them!’ Farmer facing ‘monumental’ inheritance tax bill blasts Rachel Reeves: ‘D-Day for agriculture’

Fairlie warned that the new policy could have devastating consequences for the farming community. He argued that the changes threaten the traditional practice of passing farms down through generations.

"We're doing this to produce food to keep you alive," Fairlie said, emphasising the importance of domestic food production. He accused Labour of "killing the hand that feeds them" with the proposed tax reforms.

Fairlie stressed the crucial role of farmers in daily life. "People need us. You need a farmer three times a day," he told GB News.

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The farmer expressed his intention to participate in a planned National Farmers' Union (NFU) protest in London. "We can't fathom how close this is to D-Day for agriculture. This is monumental," Fairlie said.

He noted the rarity of such action from the NFU, highlighting the severity of the situation. "The fact they have already organised a march in London shows you how monumental this is. It's terrible," Fairlie added.

The inheritance tax changes, announced in Labour's recent budget, have sparked widespread concern among farmers. Under the new rules, farms worth over £1 million will be subject to inheritance tax, where previously they were exempt.

Andrew Ward, a Lincolnshire farmer, told the Express that the policy would "cripple" family farms. He warned that £1 million "would barely get you 30 acres" in today's market.

The National Farmers' Union president, Tom Bradshaw, echoed these concerns. He told Sky News that the policy "will snatch away" the next generation's ability to produce British food.

Many farmers fear the changes could lead to increased food prices and reduced domestic food production.

However, some experts argue that concerns over the inheritance tax changes may be overblown with some tax specialists suggesting only the wealthiest estate owners will be affected.

According to analysis by the Centre for the Analysis of Taxation, only 200 estates out of 1,300 a year claimed more than £1 million in relief between 2018 and 2020.

Arun Advani, associate professor of economics at the University of Warwick, noted that married couples owning a farm together could qualify for up to £2 million in relief.

Robert Palmer, executive director of Tax Justice UK, stated that "the vast majority of APR goes to the wealthiest families, many of which don't have much to do with farming."