Inheritance tax on farms is fair and balanced

Only the very richest estates are being asked to pay, which will support small, family-run operations in the long term

Food security is national security and this Government’s commitment to farmers remains steadfast.  
Our Labour Government has committed £5 billion in the agricultural budget over the next two years.
As part of that, we’ve allocated the biggest ever budget for sustainable food production and nature’s recovery in our country’s history.
I am rapidly releasing £60 million to support farmers who have had their farms devastated by severe flooding.That is how we boost our food security and speed up nature’s recovery.
The Conservatives left this country in a mess, with a £22 billion black hole in our nation’s finance. Fixing that means we must face some difficult choices, but we will do it fairly.
I am not prepared to let our public services continue to crumble while the wealthy buy up huge estates robbing young farmers of their dreams, just to avoid paying their taxes. This is a scandal.
I completely understand farmers’ anxiety at any changes. But rural communities need a better NHS, affordable housing and public transport we can provide if we make the system fairer. 
That is why the Labour Government has announced plans to reform Agricultural Property Relief.
Only the richest estates will be asked to pay – not small, family farms as some misleading headlines have claimed.  
Look at the detail and you’ll see that the vast majority of farmers will not be affected at all.  They will be able to pass the family farm down to their children just as previous generations have always done.
This is a fair and balanced approach that protects family farms while also fixing the public services those same families rely on.  
True to form, the Conservatives are backing wealthy tax avoiders instead of supporting plans to fix the economy that will benefit everyone, including our farmers.  
This is a fair and balanced approach that will fix our public services and deliver for Britain and is a policy I am proud to support.
If the Conservatives disagree with how we are raising tax to fix the foundations of the economy, they should tell us which taxes they would raise and whether they would tax working people.
And they can explain why they disagree with leading tax experts at the Institute for Fiscal Studies. And they can defend their conduct to farmers while they do it.
Under the Conservatives, 12,000 farmers and agricultural firms were forced out of business, and every farmer was sold out and undercut by unfair Tory trade deals with New Zealand and Australia. They couldn’t even spend their own budget, failing to back British farmers with £300 million that was owed to them.  
Our Labour Government will never forget that farmers are the beating heart of our great country. It is their hard work that puts food on our tables and stewards our beautiful countryside.
That is why we will deliver a new deal for British farmers, championing their interests. We will always protect farmers in trade deals, use the government’s purchasing power to back British produce and make the supply chain fairer so food producers get the fair deal the Conservatives denied them.  And we will guarantee the future of traditional family farms as they pass from generation to generation.