Little-Pengelly to Westminster: Change course and block "cash cow" inheritance tax for farmers plan
Farmers must not be used as a cash cow in Westminster’s plans to bring in massive new inheritance taxes.
That’s according to deputy First Minister Emma Little-Pengelly, who has called on locals to protest looming taxes while arguing the Northern Ireland Executive should stand united in telling the UK government to “change course urgently”.
In her Budget two weeks ago, Chancellor Rachel Reeves announced that inheritance tax will be charged at 20% on agricultural assets above £1m, sparking anger among the farming community.
Ms Reeves has said that in some cases, the threshold could in practice be about £3m.
During ministerial question time at Stormont, Ms Little-Pengelly was asked if she’d had conversations with the Chancellor about the new tax’s impact on family-owned farms in Northern Ireland.
The deputy First Minister said many farmers and families are “particularly concerned” by the measure.
She said she raised concerns about the change with Ms Reeves and Prime Minister Keir Starmer ahead of the Budget, but “that was not listened to”.
“We will continue to fight that fight,” the deputy First Minister stated, while encouraging people with concerns to attend a rally near Lisburn next Monday.
She said: “Farming is at the heart of our economy here in Northern Ireland.
“Farming is incredibly important - our local farmers provide good quality, locally grown, locally supported, locally produced food.
“We are a net supplier of food across this UK. That is something to be valued, that is something to be protected.
“We should be standing up for our farmers and I am determined that is what I will be doing as we move forward, including on this very important issue.”
Asked what steps the Executive could take, Ms Little-Pengelly said: “Farmers need support, they are not a cash cow to raise cash for anything else.
“They require support, not additional burdens.
“I believe we can have a strong united voice from the Northern Ireland Executive to say to the Chancellor, very strongly - protect our farmers, we will be fighting for our farmers.
“We are on the side of farmers on this issue and we are asking the Chancellor to change course urgently.”
The Ulster Farmers’ Union is to stage a rally against the new taxes at the Eikon Exhibition Centre, home of the Balmoral Show, on November 18.