The NFU have met with the defra secretary and treasury officials to highlight the significant impact that the outlined changes to inheritance tax (IHT) would have on British farming.

NFU president Tom Bradshaw clearly outlined how this would impact family farms, homegrown food production and the increased stress and anxiety these planned changes are causing.

Talking after the meeting Mr Bradshaw said: “I’ve spoken to a huge number of our members in the past few days and heard some really upsetting accounts of what this tax would do to family farms.

MORE NEWS | Species diversification key in climate fight

MORE NEWS | Funding disparity sparks concern for conservationists

“I’ve heard about distressed elderly parents who are having to apologise to their children in tears for something that isn’t their fault, telling them they’re sorry because they feel they’re now a burden on the family.

“I’ve heard from families who can’t see any way they can plan for a future which doesn’t result in losing their business. Men and women who’ve spent years building up farm businesses now wondering what’s the point in carrying on when it’s going to be ripped apart.

“These are the working people of the countryside, and I made it clear to Defra and the Treasury today that there has been a clear miscalculation of the impact this will have on them. The Treasury has got its figures wrong1. This policy won’t protect family farms, it will do the opposite.

“Treasury officials have assumed that all previous Agricultural Property Relief (APR) claims are working farms, which is not the case. Nor did these claims include those eligible for Business Property Relief (BPR).”

Mr Bradshaw suggested that ministers are neglecting food-producing farms, instead, introducing a tax reform that will protect private houses in the countryside that have acres for grazing.

“Even Defra’s own figures show this, which is why they’re so different to the Treasury data this policy is based on. With Defra data showing two thirds of farms could be affected, it was good to hear that the Treasury would look at the discrepancy in figures,” said Mr Bradshaw.

The NFU have outlined that these figures include a substantial number of smallholdings, with 27% of treasury figures being for assets under £250000 and another 23% under £500000.

Very few viable farms are valued at under £1m, which could purchase just 50 acres and a house today, while no sustainable food-producing business operates on that size, with the average farm in the UK exceeding 250 acres.

Mr Bradshaw also raised concerns that food security would be harmed if farm businesses were forced to sell off land to cover the incurred IHT costs and the impact it would have on homegrown food production.

He said: “With businesses already running on unsustainably tight margins – mass flooding meant that many haven’t turned a profit this year – compounded with further costs from National Insurance and National Living Wage increases, farming families have nothing left to give.

“At last year’s NFU Conference, we heard from Sir Keir Starmer that ‘Losing a farm is not like losing any other business, it can’t come back’. He was absolutely right. It can’t. And neither can its ability to produce food for the nation.

“That’s why the only sensible course of action is for the Treasury to reverse this decision.”