Report on impacts of IHT alarming says FUW

THE Farmers Union of Wales says an independent report into the impacts of UK Government policies on family farms is alarming.

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A report recently published by CBI Economics and commissioned by Family Business UK provides comprehensive estimates of the economic and fiscal impacts of the proposed Business Property Relief (BPR) and Agricultural Property Relief (APR) reforms for family businesses and farms across the United Kingdom.

In summary, the report analyses the findings from 4,147 family businesses and farms across the UK. It suggests that the reduction in business activity will lead to a loss in Gross Value Added (GVA) of £14.8 billion over the next five years.