Family farms tax putting 43,000 rural jobs in peril

RURAL Labour MPs facing the loss of more than 43,000 constituency jobs are threatening a fresh rebellion over Sir Keir Starmer’s inheritance tax raid.

- By Steph Spyro and Martyn Brown

The Prime Minister could see another revolt by backbenchers in countryside seats, following the Government’s U-turns on winter fuel payments, welfare and an inquiry into grooming gangs.

Analysis of a Confederation of British Industry report found rural areas will lose 43,560 jobs and £2.8billion in productivity by the end of the parliamentary term due to agricultural property relief (APR) and business property relief (BPR) changes.

From next April, combined agricultural and business property assets up to £1million will still receive 100% relief. But anything above that will be taxed at an effective rate of 20%.

Demolished

Asset-rich but cash-poor farmers fear they will have to sell off their land to foot the bill.

Now, more than 40 Labour MPs are said to be considering a bid to water down the looming changes to inheritance tax.