Local MP Alan Mak has urged Prime Minister Andy Burnham to scrap the Family Farm Tax in his first budget.
He is among Conservative politicians in England, Scotland and Wales who have signed a letter urging the Prime Minister to fully reverse the changes to Agricultural Property Relief and Business Property Relief in the Autumn Budget on October 28.
The letter warns that the sector faces a 'once in a generation crisis', with more than 6,000 agricultural businesses ceasing trading since Labour’s Family Farm Tax was announced in October 2024. One in four family farms have already cut jobs because of the inheritance tax changes.
It goes on to say that three in five agribusinesses anticipate reducing capital investment in their businesses by up to 20 per cent to save for future inheritance tax burdens.
The letter highlights that the Prime Minister had previously indicated a willingness to look again at the removal of the Family Farm Tax, with the Conservatives now urging him to act in order to save family farms.
This is the latest stage in the Conservatives’ campaign to axe the Family Farm Tax and Business Tax and follows seven votes in Parliament forced by them and a petition signed by more than 300,000 people.
Mr Mak has consistently argued against the Family Farm Tax and shown his support for local farmers such as Sam Wilson at Stoke Fruit Farm and Mary Pike at Northney Farm, both on Hayling Island.
He joined them when they were among farmers from across the country who gathered in London to protest against the tax.
He said: "I've stood beside our farmers and I'll keep on supporting them in their fight against this unfair tax.
"Because of Labour’s anti-farming policies, farmers are facing the future with fear and uncertainty. Without a thriving farming sector, food security, employment and our rural economies will suffer.
"I urge the Prime Minister to listen to farmers and fully reverse the damaging Family Farm Tax. If he doesn’t change course, the consequences will be catastrophic."
