According to the UK government’s plan, agricultural assets worth £1 million (£2 million for married couples) would be subject to inheritance tax at 20 per cent. Finance Minister Rachel Reeves said very few farm assets would be affected by the change, but the farmers’ advocacy group warned the reforms could force people to sell their family farms to pay inheritance tax.
Since its introduction in 1984, the tax exemption for agricultural properties has enabled small family farms to be exempt from inheritance tax. This category included land used for growing crops or livestock, as well as farm buildings, houses and apartments.
Farmers were outraged by the change in this policy, and this led to demonstrations across the country.
With the UK Labor Party conference taking place in Llandudno, Welsh farmers have been given the opportunity to have their say. Convoys of tractors arrived, escorted by police to ensure traffic safety.
Protesters have now parked outside Venue Cymru, where the conference is taking place. Some anti-Israel protesters are also present on the beach.
Cover image: Farmers demonstrate in Llandudno on November 16, 2024 (Photo: AFP)
Source: magyarnemzet.hu
