The Ulster Farmers’ Union has called on Chancellor Rachel Reeves to meet urgently, warning that inheritance tax could devastate local farms.
In a letter to the chancellor, UFU president William Irvine said farming families fear being saddled with unaffordable tax bills that would force them to sell land, threatening the future of local agriculture.
Mr Irvine noted that while the issue had been raised with Ms Reeves by deputy First Minister Emma Little-Pengelly and Finance Minister John O’Dowd, farmers themselves had no opportunity to speak directly to her during her time in Belfast.
“Yes, it’s positive that these concerns were passed directly from our NI leaders to the chancellor, but it’s extremely disappointing and frustrating that she did not give the farming community the opportunity to engage with her on the matter when she was here,” he said.
He stressed that hearing concerns first-hand was vital, adding that many farm families were facing what he called “the horrendous prospect of a hefty tax bill — one that NI family farms will never be able to generate out of the money they make from farming.”
Mr Irvine warned that future generations could be forced to sell parts of the land their families had worked “long hours, often seven days a week” to build up over decades.
“Now, NI farmers feel like they’re on the brink of losing the only life they know and love, the land that keeps them close to their ancestors. No one can explain that heartbreaking reality more sincerely than our farmers,” he said.
The UFU believes the fallout would extend far beyond individual farming businesses, damaging local food production, rural jobs and the UK’s wider food security.
Mr Irvine said the chancellor must at least give farmers time to spell out why these changes would be so harmful: “The ripple effect of which would be catastrophic.
"It would create a massive drop in local food production and as a nation that imports a large percentage of its food, we can’t afford for this to happen,” he warned.
He urged the Treasury to pause before pressing ahead. “While we now await the chancellor’s response, we urge the Treasury to pause and fully assess the consequences for NI and the rest of the UK.
"To proceed with these changes without a full impact assessment would be reckless,” Mr Irvine added.
