Welsh Farmers Rally Against Inheritance Tax Hurdles Amid Government Indifference

Welsh farming unions expressed deep disappointment following a meeting with UK Treasury minister James Murray, where they felt the government showed no willingness to discuss proposed changes to inheritance tax rules affecting farms. The National Farmers’ Union (NFU) Cymru and the Farmers’ Union of Wales (FUW) highlighted concerns over a newly introduced 20% inheritance tax on agricultural assets exceeding £1 million, with a threshold of £3 million for some farmers.

NFU Cymru President Aled Jones criticized the government’s lack of engagement, describing the situation as a significant crisis for the farming industry. He mentioned that the unions had prepared a costed solution to alleviate the pressure on family farms, but the government dismissed the proposal outright. Efforts to communicate the stress farmers faced were met with indifference, leading FUW President Ian Rickman to express frustration over the lack of constructive dialogue.

Political figures from other parties, such as Welsh Liberal Democrat MP David Chadwick and Plaid Cymru’s agriculture spokesperson Ann Davies, echoed these sentiments, accusing the government of failing to understand the realities of family-run, land-rich, but cash-poor farms. They warned that the inheritance tax could exacerbate rural depopulation, harm local languages, and ultimately damage the economy.

In response, a UK government spokesperson insisted that the approach was fair and balanced, asserting that the majority of estates would not owe inheritance tax and funding initiatives aimed at sustainable farming practices. Despite these claims, the unions remain determined to advocate for their members, promising to continue seeking solutions to safeguard Welsh family farms.