Income Tax (Charge)

Sarah Dyke Excerpts

Monday 4th November 2024 Commons Chamber

[Sarah Dyke (Glastonbury and Somerton) (LD)]

This is a Budget of inequality. It seems that the Chancellor decided to deliver two Budgets: one for people in cities and another for rural communities such as Glastonbury and Somerton. Somerset is home to more farmers and food producers than anywhere else in the country. The Government’s choice to swap the agricultural property relief for the family farm tax will be disastrous for people living in my constituency and for our rural economy.

The announcement has left many farmers in my constituency reeling about the future viability of their family farms. Let us imagine what it must feel like to be potentially the one who closes the farm gate for the very last time, after generations of putting investment, innovation, love, blood, sweat and tears into a business. Well, I know how that feels, because my brother is in exactly that position. I have listened to my farming friends and neighbours, who are desperately anxious that this could be the final nail in the coffin for their cherished businesses.

The Labour party is not the natural party of farmers. I fear that its misunderstanding of agricultural communities has been reflected in its policies. APR plays a significant role in the economic viability and continuity of family farms. It existed to provide confidence to families who rely on their farm as their main income source, so that the next generation could continue to provide for both their families and the nation.

Some farmers who are nearing retirement, if they have the time, the money or the foresight, may be able to swallow some of the Government’s new family farm tax, with careful succession planning. I say some farmers, because many will not make it to retirement. It is their families that I am most worried about. Agriculture is the most dangerous industry in Britian. Farmers are 21 times more likely to have fatal accidents than those who are working in any other industry.