Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Finance

Farmers to hold ‘national strike’ against inheritance tax changes, disrupting supermarket meat and crop supplies

British farmers will stage a “national strike” next week, withholding meat and crops from supermarkets to protest Labour’s new inheritance tax policies.

Beginning Sunday, thousands of farmers plan to participate in the week-long strike, which includes a march in London on November 19, where over 10,000 farmers are expected to rally against the tax changes introduced by Chancellor Rachel Reeves.

The policy imposes a 20% inheritance tax on previously exempt farms valued at over £1 million, sparking concerns that it will force many farmers to sell parts of their operations, risking traditional family farm continuity. The Enough Is Enough protest group, representing striking farmers, warned of severe impacts on the industry, stating, “British farmers have simply had enough. We cannot afford to provide food to the public under these conditions.”

The strike will withhold non-perishable items, such as meat and certain crops, from supermarkets, potentially impacting food supplies. UK farms supply approximately 80% of the nation’s beef, 90% of fresh poultry, and large portions of lamb, pork, and wheat. Dairy farmers, however, are exempt from the strike due to the perishability of milk and eggs.

Tim Taylor, a strike organiser and animal feed business owner, noted the strike’s goal is to “disrupt but not decimate supermarket shelves,” aiming for public support.

Industry Concerns and Mental Health Impacts

The tax changes have raised significant concerns across the farming community, with some farmers fearing they may be the last in their family to maintain the business. Welsh farmer Gareth Wyn Jones expressed his decision to join the strike, citing a need to protect the future of his family’s 375-year-old farming legacy.

Mental health support lines for farmers have reported a surge in calls since the policy’s announcement, and the family of South Yorkshire farmer John Charlesworth, 78, revealed he took his own life shortly before the Budget to prevent his children from facing inheritance taxes.

The strike coincides with a “mass lobbying event” organized by the National Farmers’ Union, where nearly 2,000 farmers are expected to meet MPs. Additionally, farmers plan to protest at the Welsh Labour conference in Llandudno on Friday and may halt sewage slurry collection from water companies as an added measure.

The government argues the inheritance tax changes aim to protect family farms while addressing public service needs, stating the adjustments will not impact “the vast majority of farmers.” However, many farmers believe the measures jeopardise the future of UK farming, with some groups suggesting the action could lead to more French-style protests if their concerns are not addressed.

    You May Also Like

    Finance

    The Bank of England’s ability to set effective interest rates is being hindered by unreliable labour market statistics, according to governor Andrew Bailey, who...

    Stock Markets

    A vendor arranges Christmas lanterns at a stall in Central Market, Manila. The Philippine economy would need to grow by at least 6.5% in...

    Finance

    The Entertainer, one of the UK’s largest toy retailers, has abandoned plans to open two new stores following the government’s decision to raise employer...

    Stock Markets

    CMB Film Services, Inc. signs partnership with Puregold CinePanalo Film Festival (L-R Festival Director Chris Cahilig; Puregold Senior Marketing Manager Ivy Hayagan-Piedad, CMB Film...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Captain Of Success. All Rights Reserved.