Thousands of farmers gathered in central London on Tuesday in the biggest show of opposition to a policy announced by Britain’s center-left Labour government since it won power in July. Angry at inheritance taxation changes outlined in last month’s budget by the chancellor of the Exchequer, Rachel Reeves, protesters carried placards reading “No farmers no food,” while a procession of tractors drove past Parliament. While the immediate catalyst for the demonstration was the tax change, it also reflected a broader sense of grievance among some of those who live in the countryside who accuse successive governments of betraying their interests, particularly in the wake of Britain’s withdrawal from the European Union. The change under Ms. Reeves’s plan applies to people who inherit agricultural assets worth more than a million pounds, about $1.3 million. They were previously exempt from inheritance tax, but will have to pay it at 20 percent — half the standard rate — from April 2026.

Source: The Times November 19, 2024 19:12 UTC