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Surge in agricultural land being bought by non-farmers - data
The Guardian
|November 18, 2024
Non-farmers were responsible for more than half of farmland purchases last year, new analysis has suggested as Keir Starmer defended imposing inheritance tax on farms.
Amid a battle between the government and the National Farmer's Union (NFU) over what proportion of farms could be affected by the change, announced in last month's budget, Starmer said he was "absolutely confident" that the overwhelming majority of farmers would be exempt.
Ministers have argued that the change will prevent some investors from avoiding inheritance tax by investing in farmland, much of which is then barely used to produce anything.
A new Labour analysis has shown a big recent growth in wealthy individuals and institutions buying up farmland across England, with a parallel drop in the amount of agricultural land actively used for farming.
This story is from the November 18, 2024 edition of The Guardian.
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