Reeves facing pressure to axe farm tax changes

CHANCELLOR Rachel Reeves is facing fresh pressure from farmers to axe plans to introduce inheritance tax on farming land and businesses.

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Ahead of the Budget next week, the National Farmers' Union (NFU) said Ms Reeves “cannot keep taxing businesses into the ground”.

The union said the Government must acknowledge the volatile nature of farm business income and provide greater stability as it criticised policies Labour has introduced.

The Chancellor's plans to introduce a 20% rate on agricultural land and businesses worth more than £1 million have become a political flashpoint for a sector struggling with rising costs, tough market conditions and worsening climate impacts.