Home Property East Sussex MP calls for U-turn on farm tax changes
Property

East Sussex MP calls for U-turn on farm tax changes

Share


James MacCleary, Liberal Democrat MP for Lewes, Seaford, Newhaven, Polegate and surrounding villages, has called for a full U-turn on planned changes to agricultural tax relief set to take effect on April 6.

The changes, which come into force on April 6, will affect eligibility for Agricultural Property Relief (APR) and Business Property Relief (BPR).

Mr MacCleary said: “I come from a family of dairy farmers in Devon and regularly meet with farmers across my constituency, from Litlington to Hankham. Family farms are the backbone of our community here in the Lewes constituency and up and down the country. We cannot stand by while they are pushed to the brink by a tax that is as unfair as it is short-sighted.

“The Government’s partial U-turn was a clear admission that they got this wrong, but tinkering at the edges just won’t do. By refusing to scrap this tax in full, the Chancellor’s cavalier approach is putting our food security at risk and threatening the future of family farming in Britain.”

This tax will hit family-run farms with effective rates of 20 per cent on assets above a £2.5 million threshold, a limit the Liberal Democrats say still leaves far too many family-run farms in East Sussex facing effective tax rates of 20 per cent on assets above the limit.

Mr MacCleary argued that the sector is already struggling.

Farmers are already being hammered by the cost of living crisis and are now under even greater pressure from rising fuel, fertiliser and feed prices due to Donald Trump’s illegal Iran war – all while often surviving on only razor thin margins.

He said the recent changes do not go far enough to address the concerns of the farming community.

Mr MacCleary said: “Farmers have been undermined for years by botched Conservative trade deals, and now they are being hammered by a Labour government that simply does not understand the countryside. The Government has one week left to do the right thing and axe the Family Farm Tax for good.”





Source link

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Don't Miss

BTBG Blends Bitcoin & Gold in Stacked ETF Strategy

The era of bitcoin’s predictable four-year halving cycle is over, according to Quantify Funds CEO, David Dziekanski. Sharing his insight during an interview...

How Trinity College is investing in retrofitting and resilience for the UK's future climate – Business Green

How Trinity College is investing in retrofitting and resilience for the UK's future climate  Business Green Source link

Related Articles

Gap that let dirty money buy property closes today – AFR

Gap that let dirty money buy property closes today  AFR Source link

Nuveen doubles down on grocery-anchored retail with $26M Park Ridge purchase – Crain's Chicago Business

Nuveen doubles down on grocery-anchored retail with $26M Park Ridge purchase  Crain's Chicago...

Exploiting People’s Property: How the Taliban Have Crippled Afghanistan’s Real Estate Market

Several owners of real estate brokerage offices are criticizing the Taliban’s interference...

Real Estate View: Japan: Reinflation Revival – DWS Asset Management

Real Estate View: Japan: Reinflation Revival  DWS Asset Management Source link