Thousands of people have protested in London over changes to inheritance tax for farmers announced in the Budget.
Among those marching in Whitehall was TV presenter Jeremy Clarkson, who said “it’s the end” for farmers, as he called for the government to change its mind.
Prime Minister Sir Keir Starmer said he understood farmers’ concerns and “wants to support” them but added “the vast majority” would be unaffected.
From April 2026, inherited agricultural assets worth more than £1m, which were previously exempt, will be liable to the tax at 20% – half the usual rate. Other allowances could mean a couple who are married or in a civil partnership could pass on a farm worth as much as £3m.
However, many farmers argue that while they are asset rich – for example in terms of their property and livestock – they are cash poor and the changes would mean they would have to sell up to be able to pay the tax.
The Metropolitan Police estimated more than 10,000 people took part in the protest to Whitehall, which has now ended.
Earlier in the day, around 1,800 National Farmers’ Union (NFU) members met near Parliament as part of a mass lobby of MPs where the group’s president gave an impassioned speech. He described the tax changes as a stab in the back, a kick in the teeth and as wrong and unacceptable.
NFU President Tom Bradshaw told protesters the changes were the “straw that broke the camel’s back”.
Later, speaking to Sky News, Mr Bradshaw said Labour had “destroyed” a “contract” between farming and the government dating back to World War Two with its changes to inheritance tax.
“We’d love to pay more tax,” Mr Bradshaw added. “If we get proper margins from food production, and we end up swelling the Treasury coffers, bring it on.
“But at the moment the supply chain doesn’t give us those returns that enables us to save the money to pay the inheritance tax that this government now wants to take.”
He added that Environment Secretary Steve Reed said when he was in opposition that Labour would not change agricultural property relief.
“This industry has been betrayed,” Mr Bradshaw said. “They said they wouldn’t make this change and suddenly they’ve gone ahead and done it.”
Government research suggests that an average farm last year made a profit of about £45,300, although that figure may be overstated as it is based on a survey that excluded farms that bring in the least money.
The number of farms that could be affected by the inheritance tax change is also disputed.
The government says it will only affect the wealthiest 500 estates each year but the NFU and the Country Land and Business Association (CLA) have estimated up to 70,000 farms could be affected.
According to BBC Verify, the largest estimate relates to the total number that could ever be affected. But the number of farms likely to be impacted each year is set to be around 500.
Environment Secretary Steve Reed told the Commons Rural Affairs Committee that people “have drawn a straight line to inheritance tax liability but you can’t do that”.
He added: “Assuming these projections… are correct [the figure of 500] then many of them – probably happily – are wrong – because there are things that they can do to plan their tax affairs, as most businesses and asset owners would do, to limit their liability.”
