James Evans MS has highlighted the threats that the UK Labour budget poses to our rural communities across Wales.
During a Welsh Conservative debate on the UK Labour’s budget, James highlighted several concerns, including the detrimental effect that the changes in inheritance tax on farmland valued over £1 million will have on family farms – which will see many farming families punished for just wanting to pass their land down through the generations. The average size of a farm in Wales is roughly 118 acres, with the average price for arable land around £8,500/acre. This puts the average value of a Welsh Farm at £1million, not including the value of livestock, assets like machinery, the farmhouse and other buildings.
James Evans MS said:
“It’s shocking how UK Labour can claim that their new inheritance tax will only affect around a quarter of our farmers – this is simply not true. It shows just how out of touch this party is with rural Wales.
“Labour believes that all farmers are wealthy, but the reality is while they may be rich in assets, they are not in cash. Many of them often earn below the National Minimum Wage and run on tight budgets to keep their farms going. This budget expects them to do more with far less than before.
“I fear these changes will push small family farms out of business and open the door for big corporations to buy the land to meet their ‘green targets’. This doesn’t just threaten rural Wales, it threatens everyone who depends on the quality food we produce. Labour must stop their attack on our farmers and stand with them and protect the backbone of Wales.”
