The so-called 'family farm tax' is the most unpopular measure in the government’s recent autumn budget, new polling of the public has found.
Data commissioned by the NFU has shown Labour is not trusted by its 2024 voters on issues surrounding the impact of the budget on farmers.
The survey, undertaken by over 1,000 people and carried out by Portland this week, shows that changes to inheritance taxation on farms are unpopular.
Public perceptions that the Labour Party does not value rural voters as highly as urban ones are also building.
The data shows that two thirds (65%) of Brits do not think that the government has fully considered the impact of its planned changes on family farms.
In the days since the budget, the NFU has repeatedly said to Treasury that its figures justifying the tax are wrong and will 'devastate family farms, putting many out of business'.
The government own figures suggests that 27% of farms will be affected by changes to inheritance tax (IHT), namely agriculture property relief (APR).
However, the NFU has warned that more farms will be impacted, with its own data showing 75% of farms stand to be above the £1m family farm tax threshold.
New polling, released today (23 November), shows the British public agree with the union, with only 27% supporting the family farm tax.
Other results show that IHT on farms is the joint most unpopular measure in the budget, tied with changes to pensions.
Two thirds of the public do not think that the government has fully considered the impact of its planned changes on family farms.
IHT on farms is ranked the second least popular budget measure among 2024 Labour voters, with (21%) picking it, fractionally less unpopular than IHT on pension pots (22%).
And nearly half of 2024 Labour voters think that either IHT on farms and businesses is unfair, with only 11% saying IHT on farms was among their most favoured budget measures.
NFU President Tom Bradshaw said he was not surprised by this data: "It shows the level of support for British farmers from people across the country," he said.
"Unfortunately for this new government, it also shows that, on the issue of changes to Inheritance Tax to working family farms, the majority of people are with us and believe this an unfair move.
“From the work we have done with financial experts formerly of the Treasury and Office for Budget Responsibility (OBR), we know 75% of farms could be impacted by changes to APR and business property relief (BPR).
"While the two go hand in hand, for many working farms, the Treasury has chosen not to count this as part of its planned inheritance tax changes."
Mr Bradshaw said this 'skewed' the impact the changes would have, resulting in the 'confusion and uncertainty which has played out in the media in recent days'.
It follows 1,800 farmers joining the NFU during its mass lobby of MPs earlier this week, which was undertaken at the same time as more than 10,000 farmers were rallying on the streets of Westminster.
Fears are rising that without changes, farmers will be forced to sell off parts or all their farm businesses to pay huge tax bills, with added cost for pensions.
All this puts additional costs to food producing businesses which are already operating on paper thin margins, Mr Bradshaw warned.
He said: "Together with changes to the National Live Wage and National Insurance, I can’t see a scenario where food prices don’t rise, at a time when the public have already been hammered by a cost-of-living crisis.
“My message to government is clear; look at the evidence, stop this family farm tax and show your electorate you’re on their side.”
