Farmer Olly Harrison has given his verdict on Labour’s latest changes to inheritance tax thresholds which have been dubbed a victory for rural communities.
Ahead of Christmas, the Government announced it would lift the threshold from £1million to £2.5million in a festive win for farmers up and down Britain.
“It’s definitely a better Christmas than we thought we were going to have,” Mr Harrison told GB News.
Continuing on, he added: “I would reckon around 50 per cent of farms now have been taken out. The eye of the storm of the inheritance tax fiasco.
“I would think that there’s still around 50 per cent left in.
“And if you think that the top sort of 25 per cent of farms produce 75 per cent of the food, there is still a big risk to food security at the moment.
“However, many upland farms and some of the smaller ones will now actually have just about break even under that threshold, which is fantastic news.
“But I think there is still more to be done.”
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