Executive ‘can send united message over inheritance tax changes for farmers’

The Northern Ireland Executive should send a united message to the UK Government that it needs to “change course urgently” over changes to inheritance tax for farmers, deputy First Minister Emma Little-Pengelly has said.

Ms Little-Pengelly told MLAs that farmers cannot be used as a “cash cow” and urged people to attend a protest against the planned changes next week.

Chancellor Rachel Reeves announced in her first Budget that inheritance tax on agricultural assets will be charged at 20% above £1 million, sparking anger among many in the farming community.

Ms Reeves has said that in some cases the threshold could in practice be about £3 million.

During ministerial question time at Stormont, Ms Little-Pengelly was asked if she had had conversations with the Chancellor about how the change would impact family-owned farms in Northern Ireland.

The deputy First Minister said many farmers and families are “particularly concerned” by the measure announced in the Budget.

She said she had raised concerns about the change ahead of the Budget with Ms Reeves and Prime Minister Sir Keir Starmer.

Ms Little-Pengelly added: “However, that was not listened to and has now been put in place in terms of the announcements around the Budget.

“We will continue to fight that fight.”

The deputy First Minister encouraged people with concerns to attend a rally near Lisburn next Monday.

She said: “Farming is at the heart of our economy here in Northern Ireland.

“Farming is incredibly important, our local farmers provide good quality, locally grown, locally supported, locally produced food.

“We are a net supplier of food across this UK.

“That is something to be valued, that is something to be protected.

“We should be standing up for our farmers and I am determined that is what I will be doing as we move forward, including on this very important issue.”

Ms Little-Pengelly was asked what steps the Executive could take to address the impact on farms.

She said: “Farmers need support, they are not a cash cow to raise cash for anything else.

“They require support, not additional burdens.

“I believe we can have a strong united voice from the Northern Ireland Executive to say to the Chancellor and to say very strongly, protect our farmers, we will be fighting for our farmers.

“We are on the side of farmers on this issue and we are asking the Chancellor to change course urgently.”

The Ulster Farmers’ Union is set to stage a rally against the changes at the Eikon Exhibition Centre – the site of the Balmoral Show – on November 18.