Opinion: Still time to do the right thing for Yorkshire county farming families

The Budget is looming.

There is still time for politicians to do the right thing for British farming families and rural businesses.

They can change the new inheritance tax policy that has caused an outpouring of anger and frustration from all sectors of the farming industry, wider supply chain and rural advocates.

The NFU, my fellow farmers and growers, allied businesses and other supporters urge a review of this damning family farm tax – it can still be done, there is time.

Changes can still be made that will back British farming – and back investment in Britain’s future.

Alternatives have been put forward, by the NFU and others, that will raise what is needed and more without destroying our homes, livelihoods and the very soul of our rural communities and businesses.

For many farming families this tax as it stands will be devastating, leading to generations of hard work undone as farms are forced to sell off land and core business assets to fund significant and unexpected tax bills.

Estimates for many are more than their entire profits in a year, and that every year for 10 years is unimaginable, unsustainable and unacceptable.

And it comes on the back of an exceptionally challenging two years in farming due to extreme weather, trade and geopolitical volatility alongside a raft of other issues.

We have barely got through these, with cashflow and confidence at rock bottom.

If pushed through by Government the family farm tax threatens not just our farms but our food security, our economy and our rural communities and countryside.

The policy preys on elderly farmers put in an impossible position, it has already put unnecessary pressure and stress on the majority of farming families and has hamstrung those considering a future in the family business - some before it has even really begun.

Of course, there is a weight of evidence to demonstrate what we claim and there is support - it has been shown time and time again this year from all corners.

From people the length and breadth of the country, from independent economists, from small and big businesses, and even from MPs from all parties.

Even if that political acknowledgment and support is challenging.

Last week more than 100 businesses, retailers and trade bodies across the food and farming supply chain, including the NFU, wrote to the Prime Minister urging him to rethink the inheritance tax plans.

There have been more than 13,000 letters in just a matter of weeks go to more than 550 MPs from supporters and others championing food production, our farms and the industry.

That swell of support has been there all year as demonstrated by the 270,000 that signed the NFU’s petition earlier this year. Now we need to see their call to stop the family farm tax reflected in Westminster on the day of the Budget. We need to see change.

We understand there are holes in public finances that must be filled to deliver the services we all value and we hear what Government has said about investment in the industry. But talk about looking to the future and increasing profitability ring hollow if that future is one of irreversible damage to hard working families and their businesses.

Damage that will stifle investment and growth, the very thing this government says is its core goal.

I and fellow farmers call for change, there are less damaging alternatives to raise this money and more, there is time to reverse this policy.

There is still time to safeguard our farms and there is still time to truly help bring back confidence, investment and economic prosperity.

Our farms have a track record of driving economic development and growth – let us do it.

Do the right thing, there’s no shame in it - ditch this policy as it stands.