Young farmers have voted overwhelmingly against Labour's inheritance tax reforms during the National Federation of Young Farmers’ Clubs’ (NFYFC) annual meeting of clubs.
Members of the NFYFC voted by a 98.9% majority to oppose proposed changes to inheritance tax, voicing strong support for the future of British farming.
Held in Leamington Spa on 13 April, the motion was introduced by Luke Cox of Wiltshire, who warned that the reforms would harm the next generation of farmers and threaten family-run farms.
In the autumn budget last October, the government announced several reforms to agricultural property relief from inheritance tax.
This includes a £1m allowance which will apply to the combined value of property that qualifies for 100% APR.
After the £1m allowance has been exhausted, relief will apply at a lower rate of 50% to the combined value of qualifying agricultural and business property.
Speaking at the event, Luke Cox, 28, explained how the looming threat of inheritance tax would stifle investment in his family's Gloucestershire farm.
“It’s the restraint on investment that I think is particularly cruel to us as the next generation,” he said during the meeting.
“The family farm tax is mathematically and morally wrong. I call on you to stand up for the future of UK agriculture.”
YFC AGRI chair Robbie Tuer, from Cumbria, seconded the motion, highlighting how the next generation "is having to navigate more hurdles than ever before".
He called for more representation in policy decisions: “We need young people, not just working in farming, but sitting at the table when policies are written," he said.
"We need to be listened to, not just about inheritance tax, but about what kind of industry we want to build – one that’s resilient, fair and sustainable.”
The debate continued with young people from across the federation speaking passionately about the impact the tax would have on their lives and families, with one 15-year old’s speech winning an award.
From Leicestershire & Rutland YFC, Jessica was recognised by the judges after sharing her views on two of the motions, one being the inheritance tax proposals.
Jessica, who will be the fifth-generation farmer on her family’s 430-acre beef and arable farm, shared her concerns about the proposals.
“How can we be expected to carry on the legacies of our families when we are faced with such a huge tax burden?" she asked.
"The reality is, the inheritance tax isn’t just a financial issue, it’s a barrier to continuing a family farm.
“If these tax proposals go through, many family farms will be lost. Without these family farms, without young farmers, we lose more than just a farm, we lose the very heart of rural Britain.”
Speaking after the meeting, Jessica said the proposals were going to have a “massive impact” on her family farm.
She added: “It may even lead to the farm being unviable when it’s my turn to take it on, leading us to sell up and not continue this legacy.”
