Part 2/10:
The key issue at hand is the proposed inheritance tax increase on farms, part of a budget announcement made by Labour’s Shadow Chancellor, Rachel Reeves. The government asserts that this tax would impact only 500 of the UK's 209,000 farms each year, while the National Farmers Union suggests that nearly 50,000 farms could be affected. The Country Landowners Association estimates even higher figures, asserting that as many as 70,000 farms could face tax liabilities, potentially forcing farmers to liquidate their assets to meet these demands.