Witham MP, Priti Patel, recently met with local farmer Steve Crayston, to discuss the impact that Labour’s family farm tax will have on businesses such as his.
Steve, who farms in Pebmarsh, has seen the financial situation for his business change overnight, with Labour’s planned changes to the agricultural property relief (APR) scheme jeopardising the future financial viability of the farm.
The farm at Hunts Hall has been in the Crayston family for over 100 years in various forms, and today is run by Steve, his uncle and his cousin following Steve’s father stepping back and retiring.
Alongside farming a total of 1,000ha, the farm also has a diversified to include a glamping site, a 20-acre fishing lake and is one of just three propagation businesses supplying blackcurrants cuttings to Ribena growers, alongside numerous commercial lettings.
The changes to the agricultural property relief (APR) scheme, announced at the Autumn Budget last year, slashes the current 100% rate of relief on inheritance tax to just 50% after the first £1 million of combined agricultural and business assets.
Despite Labour Prime Minister Keir Starmer and Environment Secretary Steve Reed previously promising to protect farmers, under the new Labour Government proposals, more than 100,000 farms across the country will be hit by new inheritance tax laws, a significant difference from the Treasury’s estimate, who said that their changes would only affect less than 500 farms a year, figures which were used to justify the policy. Reducing the relief and imposing these changes will devastate family farms, and poses a serious risk to domestic food security and food prices.
Since the changes were announced in the Chancellor’s Autumn Budget, Priti has met with farmers from across the constituency, both at their family farms in Essex as well as joining them as they campaigned in Westminster to oppose the introduction of Labour’s Family Farm Tax.
Following her visit and meeting with Steve, Priti said:
“Keir Starmer told farmers that Labour respects them, would protect their livelihoods, and promised before the election that they would not slam farmers with a Family Farm Tax.
What is clear now is their dishonesty around their plans if they were to be elected, and that they would say anything in order to secure votes and win the election.
Reducing the relief and imposing this tax will devastate family farms such as Steve’s, who simply will not be able to meet the new inheritance tax liabilities, and poses a serious risk to domestic food security and food prices.
With these changes and the assault on our hardworking farmers, Labour have made a clear political choice to target family farms and the consequences will be felt by thousands of farms and families across the country.”
