'Tractor tax is ruining our culture, this is just another blow for hard-working farmers'
manchestereveningnews.co.ukA farmer from Lancashire has criticised the government's budget, saying that it's 'ruining a culture'. Despite the latest setback, Becki Fielding from Lancashire says that the budget is 'just another blow' for farmers.
Chancellor Rachel Reeves announced Labour's first budget since Gordon Brown was Prime Minister. But one aspect of the budget has been poorly received by farmers across the UK.
The particular aspect which has left many farmers like Becki furious is a new policy on inheritance tax. This will see Inheritance Tax charged at 20 percent on agricultural assets which are worth more than £1 million. READ MORE: Huge Manchester Airport project promised to let Manchester 'prosper and thrive' - has it? Nicknamed the 'Tractor Tax', Reeves has said that in some cases the threshold could be as high as £3 million.
However, for a lot of farmers this is not enough. Becki works on Pulford Farm Dairies, her family farm located in Blackburn.
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