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.
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.
