Farmers in Wales are up in arms over new inheritance tax changes announced by the UK government, staging a protest in front of the Welsh Labour conference to voice their discontent. The protest saw farmers spanning three generations driving dozens of tractors and farm vehicles into Llandudno, where Prime Minister Boris Johnson was addressing delegates.
The changes announced in the autumn budget state that from April 2026, farms worth more than £1 million will be subject to a 20 per cent tax on the value above that threshold. This is a significant blow for farming families like the Parrys, who have traditionally been able to pass on their property – including land, buildings, and animals – without having to pay any tax.
For decades, farmers have relied on the ability to pass on their estates to future generations without the burden of hefty taxes. The new inheritance tax changes threaten the livelihoods and legacies of these farming families, prompting them to take to the streets in protest.
The Welsh Labour conference served as a platform for farmers to make their voices heard and demand a rethink on the inheritance tax reforms. The protest highlighted the deep-rooted concerns and frustrations within the farming community over the impact of these changes on their way of life.
As the debate around inheritance tax continues, it remains to be seen how the government will respond to the outcry from farmers and whether any revisions will be made to address their grievances.
Watch the video by The Times and The Sunday Times
Video “Farmers stage protest against inheritance tax changes in front of the Welsh Labour conference” was uploaded on 11/16/2024 to Youtube Channel The Times and The Sunday Times