Farmers in Wales are currently protesting in Llandudno ahead of a scheduled speech by Prime Minister Keir Starmer at the Welsh Labour conference. The demonstrations by farmers come in the wake of recent announcements concerning changes to inheritance tax rules targeted at farms. The Welsh Labour conference today is set to be surrounded by a convoy of tractors making their way through Llandudno.
The current row began after Labour chancellor Rachel Reeves revealed changes in inheritance tax rules during the Budget announcement, stating that farms worth over £1 million would now be subject to a 20% tax from April 2026 instead of the previous 100% relief. This has sparked concerns among farmers in Wales, who fear the impact these changes could have on their livelihoods. While the Treasury claims only a small number of Welsh farms would be affected, farmers and their unions strongly dispute this assertion.
Prime Minister Keir Starmer has defended the government’s decision, stating that the vast majority of farms would not be impacted by the new inheritance tax rules. He emphasized that there are thresholds and exemptions in place to protect most farms from the tax changes. Despite the reassurances from the Prime Minister, many farmers remain apprehensive about the potential consequences of the policy shift.
The scene outside the conference venue in Llandudno depicts a strong display of dissent from farmers, with messages such as ‘blood on Labour’s hands’ and ‘food shortages soon’ adorning placards on tractors and vehicles. The heightened emotions within the farming community highlight the gravity of the situation and the urgency for clarity and reassurance from the government.
First Minister Eluned Morgan has stated that only a very small number of Welsh farms would be impacted by the changes, although specific figures were not provided by the Welsh Government. The lack of precise data has added to the uncertainty and unease among farmers who fear the potential ramifications on their businesses and families.
The ongoing protests and debates surrounding the inheritance tax changes signify a broader issue concerning the future of farming in Wales. Farmers play a vital role in the country’s economy and food production, and any policy changes that affect their livelihoods have significant implications for the agricultural sector as a whole. The government’s responsibility now lies in addressing the concerns of farmers and ensuring transparency and fairness in the implementation of the new tax rules.
As the tractor protest unfolds in Llandudno, the voices of farmers reverberate through the streets, demanding clarity, understanding, and support from policymakers. The outcome of these demonstrations and the government’s response will undoubtedly shape the future landscape of farming in Wales and the well-being of those who depend on it for their livelihoods.