NFU Scotland has expressed deep disappointment – but little surprise – that today’s UK Budget has pushed ahead with damaging reforms to Inheritance Tax (IHT), including changes to Agricultural Property Relief (APR) and Business Property Relief (BPR) that will have profound consequences for family farms across Scotland.
.jpg)
While the Chancellor announced today that the £1 million IHT threshold will now be transferable between spouses and civil partners, the Union says this narrow concession “helps a handful but abandons the many” – not nearly going far enough.
Talking on the change, NFU Scotland President Andrew Connon said:
“Although a step in the right direction. the Chancellor has not removed the threat to viable, hard-working farming families.”
He added: “Despite months of warnings from all four UK farming unions, the Government continues to push ahead with a policy that is ill-thought-out, harmful and entirely at odds with the national interest in food security and thriving rural communities.”
He continued:
“We fought this every step of the way - from Westminster meetings to standing on top of a combine addressing thousands of farmers - because we know what is at stake. We will continue that fight, because the long-term future of Scottish agriculture depends on it.”
NFU Scotland will take time over the next few days to analyse the detail of the budget and has meetings with a number of Scottish MPs next week at Westminster.
Furthermore, the Union shall work with the other unions on the Finance Bill over coming months to garner support among MPs to deliver the changes our farmers and crofters need.
Notes to editors:
- A photograph of Andrew Connon and an IHT rally is attached.
Ends
Contact Megan Williams on 07920 018619