November 19, 2024, 07:28

Thousands of farmers are expected to take to the streets of London today to protest against the government’s decision in the Autumn Budget to introduce a 20% tax on inherited farming assets over £1m.

The NFU has warned that the move could mean the “death of the family farm” and, by extension, pose a serious threat to the UK’s food supply.

Friends and family of farmers feel blindsided and betrayed.

Taking over the family farm, already a colossal challenge, now seems impossible.

Fundamentally, farms are a business, and I have friends who have been talking with their parents for years about how this business could continue for the benefit of the next generation. Many farms operate on profit margins close to 1% and lose money every year.

They are asset rich but generally cash poor.

A recurring theme in the conversations I’ve had is a sense of confusion: why attack farmers, and why now? This is consistent with the belief that there is a lack of understanding on the part of government regarding agriculture and the pressures it faces.

Brexit, climate change and the cost of living crisis are already making life increasingly difficult for farmers.

Rising costs of fuel, electricity, fertilizer and machinery are reducing profit margins and the labor shortage, exacerbated by Brexit, is making it difficult to find workers. Supermarkets dictate prices and, in their attempt to offer the lowest cost to their consumers, leave farmers short. Milk is sold cheaper than some water brands, and imported meat (with much lower welfare standards) threatens to make British livestock farming untenable.

Talk to any farmer about their work and they will give you a wry smile: farming is not a job, but a vocation. It’s not easy, but these people have dedicated their lives to the promise of the next generation, as stewards and business owners.

All of this brings me to my question: who exactly is going to take the place of generational farmers?

The younger generations who will inherit their family farms grew up with agriculture, they know how it works and know the challenges. Despite this, many are still willing to take on the responsibility of continuing a family legacy that lends itself to sustainable land management.

If they have to sell land to pay taxes, who will buy it and what will become of them? Other existing and potential farmers cannot afford it.

So although changes to inheritance tax have been touted as a way to help people get into farming for those who cannot inherit, with the 1% profit margin making it economically unattractive, it land is more likely to be seized. for another use; are detrimental to our food security and biodiversity.

Farmers, young and old, must be supported and not trampled.

Another important concern is the current prevalence of depression and anxiety in the agricultural sector.

A survey carried out by the University of Exeter and the Royal Agricultural Benevolent Institution in 2021 found that more than a third of UK farmers could be depressed.

One of the organizers of today’s rally, Olly Harrison, spoke on LBC A few days ago he told Rachel Johnson that he knew of four farmers who committed suicide over the budget.

The “silent struggle” is no secret and I fear this latest blow will only fuel the worsening mental health crisis in the agricultural sector.

Although they are the cornerstone on which our food production is based, farmers suffer from the backlash of the industry. When it comes to an alternative, why not go to retailers and processors? This is where the money is and where the government can collect its taxes without crippling an already bankrupt industry.

So I say to the farmers in the streets of London: shout loudly.

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Georgina Greer is a social media content editor for LBC.

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