Farmers are continuing to voice their anger over the Government's proposed inheritance tax changes, which they describe as "vindictive." Tom Bradshaw, president of the National Farmers' Union (NFU), has labelled Labour's plan to impose a 20% inheritance tax on farms valued over £1m as "horrific." Thousands of farmers are set to protest in London today amid fears that the tax will force them to sell land, jeopardising their businesses. Environment Secretary Steve Reed has defended the change in IHT, highlighting that the Office for Budget Responsibility supports the Government's position and claiming that most farmers will not be affected. However, the NFU argues that many smallholdings will be impacted by the change. Mr Bradshaw says that the more farmers consult their accountants, the more concerned they become. He warned that the tax could disproportionately impact those who have not had time to plan for it, saying: "It begins to feel vindictive rather than poorly planned."
