Richard Foord slams government’s family farm tax following OBR assessment

The latest report from the OBR suggests that the government's changes to agricultural property relief will have little effect on public finances whilst impacting farming communities already struggling with declining incomes, high energy bills and botched trade deals.

The OBR said that its 'central estimate' was that the policy will raise £500m by 2029/30.

Many farmers already make less than minimum wage and changes to inheritance tax will mean that farms are sold to larger, more corporate organisations, hurting family farms and local communities.

Farmers in Devon have also been hit by changes to the Furnished Holiday Lets allowance, which has allowed small family farms to diversify and bolster their income in the face of rising costs.

Speaking in response to the OBR’s findings, Richard Foord Liberal Democrat MP for Honiton & Sidmouth said:

"Communities across Devon depend on family farms, and this report confirms what Liberal Democrats have been saying for months: that the government must urgently rethink and scrap the family farm tax. 

“It is deeply worrying to see that expected revenue from this cruel tax is uncertain and unstable for two decades, and just further proves that the government’s rationale simply doesn’t stack up.

“The Conservatives neglected our farmers and our rural communities. They deserve better than to be hit with yet more cost pressures.

“The Liberal Democrats will continue to urge the government to change course and to scrap the family farm tax.”