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Why are farmers protesting inheritance tax changes?
Farmers are protesting the recent changes to inheritance tax that impose a 20% tax on agricultural assets valued over £1 million. They argue that this policy adds financial strain to family farms already struggling with rising costs and unfavorable policies since Brexit. The National Farmers' Union (NFU) has voiced strong opposition, warning that these changes could jeopardize the future of farming in the UK.
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What impact will the inheritance tax have on family farms?
The inheritance tax changes could significantly impact family farms by making it more difficult for them to pass on their businesses to the next generation. Many farmers fear that the tax will force them to sell parts of their land or assets to cover the tax bill, ultimately threatening the sustainability of their farms and the agricultural landscape in the UK.
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How does the NFU plan to respond if the government doesn't act?
The NFU has indicated that if the government does not reverse the inheritance tax changes, they may resort to a 'militant' response. This could involve organized protests and other forms of civil disobedience to draw attention to their plight and push for policy changes that support the agricultural sector.
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What are the potential consequences for food security?
The inheritance tax changes could have dire consequences for food security in the UK. As family farms struggle to survive, the overall agricultural output may decline, leading to increased reliance on imported food. The NFU has called for a commitment to maintain the UK's food self-sufficiency, emphasizing that a robust farming sector is essential for national food security.
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What are farmers' main concerns about government policies?
Farmers are increasingly concerned about a series of government policies that they believe are detrimental to their livelihoods. These include rising operational costs, unfavorable trade agreements post-Brexit, and now, the inheritance tax changes. Many farmers feel that these policies threaten not only their businesses but also the future of agriculture in the UK.