AGL 40.01 Decreased By ▼ -0.01 (-0.02%)
AIRLINK 187.98 Increased By ▲ 9.91 (5.57%)
BOP 10.12 Increased By ▲ 0.16 (1.61%)
CNERGY 7.11 Increased By ▲ 0.17 (2.45%)
DCL 10.15 Increased By ▲ 0.06 (0.59%)
DFML 41.57 No Change ▼ 0.00 (0%)
DGKC 107.91 Increased By ▲ 1.02 (0.95%)
FCCL 39.00 Decreased By ▼ -0.03 (-0.08%)
FFBL 82.02 Increased By ▲ 0.13 (0.16%)
FFL 14.90 Increased By ▲ 1.20 (8.76%)
HUBC 119.46 Increased By ▲ 0.21 (0.18%)
HUMNL 14.05 Increased By ▲ 0.05 (0.36%)
KEL 6.40 Increased By ▲ 0.49 (8.29%)
KOSM 8.07 Increased By ▲ 0.01 (0.12%)
MLCF 49.47 Increased By ▲ 1.37 (2.85%)
NBP 73.66 Increased By ▲ 0.83 (1.14%)
OGDC 204.85 Increased By ▲ 11.09 (5.72%)
PAEL 33.56 Increased By ▲ 1.41 (4.39%)
PIBTL 8.07 Increased By ▲ 0.05 (0.62%)
PPL 185.41 Increased By ▲ 11.34 (6.51%)
PRL 33.61 Increased By ▲ 1.01 (3.1%)
PTC 27.39 Increased By ▲ 2.12 (8.39%)
SEARL 119.82 Decreased By ▼ -5.14 (-4.11%)
TELE 9.69 Increased By ▲ 0.27 (2.87%)
TOMCL 35.30 Decreased By ▼ -0.09 (-0.25%)
TPLP 12.25 Increased By ▲ 0.63 (5.42%)
TREET 20.26 Increased By ▲ 1.84 (9.99%)
TRG 60.78 Increased By ▲ 0.29 (0.48%)
UNITY 37.99 Decreased By ▼ -0.22 (-0.58%)
WTL 1.65 Decreased By ▼ -0.01 (-0.6%)
BR100 11,772 Increased By 249.2 (2.16%)
BR30 36,584 Increased By 1034.2 (2.91%)
KSE100 110,810 Increased By 1913.6 (1.76%)
KSE30 34,429 Increased By 620.5 (1.84%)

LONDON: British farmers lined up tractors outside parliament in London on Wednesday, in protest over the government’s plan to impose an inheritance tax for agricultural businesses. It marks the latest angry objection by farmers in response to changes in the Labour government’s October budget, which they say threatens the agricultural sector and food production.

“Don’t bite the hand that feeds you,” read protestors’ banners as dozens of tractors lined Parliament Square in the centre of the British capital. “The inheritance tax is the final straw,” William Pickering, 44, who owns a farm in Kent, told AFP.

“We’re expecting (the government) to... realise they’ve made a massive mistake,” he added, saying he is ready to come back and protest until the plans are scrapped. Around 10,000 people gathered in London last month over the proposed tax changes.

The government maintains the actual threshold before paying inheritance tax could be as much as £3 million ($3.8 million), once exemptions for each partner in a couple and for the farm property are taken into account.

“The vast majority of farmers will not be affected”, Prime Minister Keir Starmer assured members of parliament on Wednesday. “We will put £5 billion into agriculture over the next two years, that’s a record number under the budget”, he said.

British farmers have been struggling in recent years due to a lack of funding and post-Brexit labour shortages.

Alongside Pickering, his 16-year-old daughter Grace said she fears she will not be able to take over the family farm due to the potential tax bill.

“We would have to sell fields and then the farm wouldn’t be viable because there wouldn’t be enough land to farm on,” she explained. Farming businesses previously qualified for 100-percent relief on inheritance tax on agricultural and business property, reducing the amounts that farmers and landowners pay when farmland is bequeathed after a death.

From April 2026, however, total exemption from death duties will only apply to the first £1 million ($1.27 million) of combined agricultural and business property.

Comments

200 characters