NFU President Tom Bradshaw recently attended NFU Cymru’s annual Monmouthshire County Conference where he addressed members on a number of issues including the proposed changes to inheritance tax rules for farmers.
At the meeting, held at Usk Rugby Club , Mr Bradshaw set out the challenges facing farmersand thanked those in the room and general public for their support.
Mr Bradshaw also thanked the retailers which had raised concerns about the inheritance tax changes. He said: “Tesco, Morrisons, Asda, Coop, Lidl, Ocada and Aldi have all publicly shared their concerns over the government’s proposed changes to inheritance tax, with more expected to follow suit.
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“ These huge food retail businesses are supporting our call for the family farm tax to be paused and to have a proper consultation because they see what a terrible effect it will have on the farmers they work with and because they know that if it is allowed to devastate family farms it will also devastate retailers’ ability to source the high-quality, sustainable food their customers want. I want to thank them for their support.”
Mr Bradshaw also highlighted a statement released by the Office for Budget Responsibility (OBR), which oversees government fiscal policies, which stated that government changes to inheritance tax on farms will likely leave elderly farmers horribly exposed, with no time to manage their way through the new policy.
Mr Bradshaw said: “This OBR report confirms what we have repeatedly warned since Budget Day; that it will be older farmers who will be hardest hit by the government’s misguided family farm tax. One minute they were advised to keep their farms until death to pass them on to the next generation, the next they’re left knowing that if they live beyond April 2026 when the measures come in, their children may have to break up or sell the farm. What an appalling position to put elderly people in.
NFU Cymru President Aled Jones also addressed the conference
Speaking after the meeting, NFU Cymru Monmouthshire County Chair Emma Robinson said: “We are thankful to Tom Bradshaw for taking time out of his extremely busy schedule to come and talk with us. Along with members across the country we are extremely grateful for the work he is doing to fight for our future. It was also good to welcome NFU Cymru President Aled Jones to give an update on the volume and variety of work being undertaken by the NFU Cymru team on behalf of members.”