Adam Chapman
Guest Reporter
A butcher has revealed the "massive impact" Sir Keir Starmer's inheritance tax proposal will have on his business and the wider economy.
His dire warning comes as thousands of farmers descend on the capital to protest against planned changes to agricultural property relief.
The rule changes, revealed in last month's budget, will mean agricultural properties and assets valued over £1million will no longer be fully exempt from inheritance tax (IHT).
Instead, they will be subject to a 20 per cent inheritance tax rate from April 6, 2026.
The move has sparked considerable backlash within farming and rural communities. National Farmers’ Union president Tom Bradshaw told members gathered for a mass lobby of their MPs over the changes to inheritance tax for farming businesses on Tuesday that the policy “will rip the heart of family farms”.
Chancellor Rachel Reeves has doubled down on her decision, claiming that the inheritance tax on agricultural properties is needed to fund public services, including the NHS. She claims only the wealthiest landowners will be affected.
Small farmers aren't buying it, arguing that these changes could force them to sell land to cover tax bills, potentially undermining food security and family farm traditions.
Butcher reveals massive impact of Keir Starmer's tax raid on farmers
The rule changes will not only impact farmers. GB News spoke to a butcher marching alongside the thousands of farmers in Westminster.
Pete from Thatcham says today is not just about the tens of thousands of farmers up and down the country.
"I'm a butcher. I work very closely with farmers and the community. What's happening is going to impact us massively across the nation. Everybody in all walks of life will feel the consequence," he told GB News.
According to Pete, if small farms are killed off Britain will be more reliant on imports and that will have a "huge impact" on welfare and sustainability.
He acknowledges that many butchers will not be in attendance today as "they believe in buying stuff out of a box, importing from around the world just to suit the customer base that looks for cheap imports".
However, he works with "proper" farmers, he tells GB News, adding: "We buy hot carcass [the weight of an animal's carcass after slaughter, but before it is chilled] and therefore it will have a severe impact on our business. If this doesn't change bit by bit farmers will start disappearing and you need to start asking yourself: 'where are we going to get our food from?' We can't become wholly reliant on imports."
Customers will ultimately pay the price if things don't change, Pete warns.
"It's not just farmers here today whingeing about inheritance tax. There's a lot more to it than that, and if you, the public, don't get behind it, you will find the impact of the prices going up in the near future."
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Speaking to the PA news agency earlier today, Environment Secretary Steve Reed insisted only a few hundred farms would be impacted, rather than the tens of thousands claimed by critics of the inheritance tax change.
And he denied that Labour, which has many more MPs in rural areas since the general election, did not understand the countryside.
He told PA: “This Labour Government has just allocated £5 billion to support sustainable food production in the UK.
“That’s the biggest budget of that kind in our country’s history and it shows that we’re backing farmers,” he said, and outlined other measures to support farmers on issues such as flooding and trade.
“All of that shows farmers that this is a government on their side and the changes to inheritance tax will affect only around 500 farms. The vast majority of farmers will pay nothing more.”
Find Out More...
His dire warning comes as thousands of farmers descend on the capital to protest against planned changes to agricultural property relief.
The rule changes, revealed in last month's budget, will mean agricultural properties and assets valued over £1million will no longer be fully exempt from inheritance tax (IHT).
Instead, they will be subject to a 20 per cent inheritance tax rate from April 6, 2026.
The move has sparked considerable backlash within farming and rural communities. National Farmers’ Union president Tom Bradshaw told members gathered for a mass lobby of their MPs over the changes to inheritance tax for farming businesses on Tuesday that the policy “will rip the heart of family farms”.
Chancellor Rachel Reeves has doubled down on her decision, claiming that the inheritance tax on agricultural properties is needed to fund public services, including the NHS. She claims only the wealthiest landowners will be affected.
Small farmers aren't buying it, arguing that these changes could force them to sell land to cover tax bills, potentially undermining food security and family farm traditions.
Butcher reveals massive impact of Keir Starmer's tax raid on farmers
Butcher reveals massive impact of Keir Starmer's tax raid on farmers
The rule changes will not only impact farmers. GB News spoke to a butcher marching alongside the thousands of farmers in Westminster.
Pete from Thatcham says today is not just about the tens of thousands of farmers up and down the country.
"I'm a butcher. I work very closely with farmers and the community. What's happening is going to impact us massively across the nation. Everybody in all walks of life will feel the consequence," he told GB News.
According to Pete, if small farms are killed off Britain will be more reliant on imports and that will have a "huge impact" on welfare and sustainability.
He acknowledges that many butchers will not be in attendance today as "they believe in buying stuff out of a box, importing from around the world just to suit the customer base that looks for cheap imports".
However, he works with "proper" farmers, he tells GB News, adding: "We buy hot carcass [the weight of an animal's carcass after slaughter, but before it is chilled] and therefore it will have a severe impact on our business. If this doesn't change bit by bit farmers will start disappearing and you need to start asking yourself: 'where are we going to get our food from?' We can't become wholly reliant on imports."
Customers will ultimately pay the price if things don't change, Pete warns.
"It's not just farmers here today whingeing about inheritance tax. There's a lot more to it than that, and if you, the public, don't get behind it, you will find the impact of the prices going up in the near future."
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Speaking to the PA news agency earlier today, Environment Secretary Steve Reed insisted only a few hundred farms would be impacted, rather than the tens of thousands claimed by critics of the inheritance tax change.
And he denied that Labour, which has many more MPs in rural areas since the general election, did not understand the countryside.
He told PA: “This Labour Government has just allocated £5 billion to support sustainable food production in the UK.
“That’s the biggest budget of that kind in our country’s history and it shows that we’re backing farmers,” he said, and outlined other measures to support farmers on issues such as flooding and trade.
“All of that shows farmers that this is a government on their side and the changes to inheritance tax will affect only around 500 farms. The vast majority of farmers will pay nothing more.”
Find Out More...