NFU President Tom Bradshaw has called upon the government to reconsider its controversial Inheritance Tax (IHT) reforms as we enter 2025. In his New Year message, Mr. Bradshaw highlighted the numerous challenges faced by farmers in the past year, including volatile input costs, fluctuating commodity prices, reduction in direct payments, and adverse weather conditions leading to a disastrous harvest.

The President expressed disappointment in the Labour government for implementing changes to inheritance tax that have long safeguarded the ability of farmers to pass on their business to the next generation. He emphasized the detrimental impact of these reforms on the farming community, with many feeling anger, despair, and betrayal following the Chancellor’s announcement.

The NFU has been actively engaging with government officials, rural labor MPs, and the public to advocate for a reevaluation of the IHT reforms. Mr. Bradshaw highlighted the importance of maintaining core standards for food imports to protect farmers and consumers from substandard products. He also stressed the need for legislation to increase public procurement of British food and promote investments in on-farm infrastructure.

The President expressed gratitude for the overwhelming public support for British farming, as evidenced by the 265,000 signatures on the NFU’s family farm tax petition. He underscored the significance of the farming industry in ensuring national security through food security and called on the government to prioritize consultation and collaboration in addressing the concerns raised by farmers.

Looking ahead, Mr. Bradshaw reiterated the NFU’s commitment to working towards a thriving and profitable farming industry that benefits consumers, the environment, and the supply of British food. He emphasized the importance of resolving the issues surrounding IHT reforms to enable the industry to focus on achieving its ambitious goals.

As we enter a new year, the NFU remains dedicated to advocating for the interests of farmers and growers, with a strong emphasis on collaboration with the government and public to ensure the sustainability and success of British agriculture. The President’s message serves as a reminder of the challenges faced by the farming community and the urgent need for constructive dialogue and action to address these issues effectively.