Retailers have publicly stated their shared concerns over the Government’s proposed changes to inheritance tax.
After talks with the National Farmers’ Union, supermarkets called for Government to pause and consult with farmers over the proposed IHT changes.
Responding to the news, NFU president Tom Bradshaw said: “Those huge food retail businesses which have come out in support of our call for the family farm tax to be paused, and to have a proper consultation, are doing so not only because they see what a terrible effect it will have on the farmers they work with, but also because they know that if it is allowed to devastate family farms it will also devastate retailers’ ability to source the high-quality, sustainable food their customers want.
“On behalf of NFU members I want to thank them for their support.”
Waitrose
Waitrose executive director James Bailey commented: “Agriculture is the backbone of our food system and of rural Britain and we are hearing from our farmers that inheritance tax is limiting their ability to plan ahead.
“It is important that the Government considers the impact of these changes and listens to farmers’ concerns.”
Morrisons
In a video, Morrisons head of agriculture Sophie Throup said: “We want to send a message of support today for the whole of the farming community.
“We understand your anger and your frustrations at the inheritance tax and we’re with you.
“We share your concerns about the long-term future the inheritance tax is going to have on farms, particularly smaller family farms, and we know that you want something done about it. We’ve been raising these concerns at the highest levels of Government since November last year and we will continue to do so.”
Lidl
A statement from discounter Lidl said: “Providing security and long-term investment for British agriculture is key to helping ensure that farmers can continue to produce affordable and increasingly sustainable food for generations to come.
“We are concerned that the recent changes to the Inheritance Tax (IHT) regime will impact farmer and grower confidence and hold back the investment needed to build a resilient, productive and sustainable British food system. We, therefore, support the call by the farming community to pause the implementation of those changes and to consult with industry to achieve a mutually beneficial outcome. We will be raising our concerns with Government at any opportunity we get.”
Aldi
Aldi said in a statement: “British farmers and suppliers are the lifeblood of our business. We are proud of our support for the UK farming community and of the fact that 100% of our fresh everyday beef, pork, poultry, eggs, butter, milk and cream is British.
“We all need a farming sector that can confidently invest in its future and continue to produce high-quality British food. That’s why we are supporting the farming community’s calls for the Government to pause the implementation of its proposed changes to inheritance tax until a further period of consultation has taken place.”
Marks & Spencer
Managing director of food at M&S, Alex Freudmann, said: “We have been working closely with the farming unions and support the NFU’s call to pause the policy while a full consultation is carried out. We have also raised these concerns during our own discussions with the Government.
“We support calls for the Government to pause the changes to IHT and to consult with the industry to ensure they avoid placing risk on the investment needed to guarantee the future of UK food security, the protection our countryside, and the safeguarding of a vital part of our national life.”
Tesco
Ashwin Prasad, chief commercial officer at Tesco, commented: “This is not just a debate about individual policies – the UK’s future food security is at stake. 74% of farmers we surveyed are concerned about the impact of climate change on their farms and two thirds (67%) are already seeing the effects.
“One current area of uncertainty is the proposed change to inheritance tax relief. With many smaller farms relying on APR (Agricultural Property Relief) and BPR (Business Property Relief) we fully understand their concerns. It’s why we’ll be supporting the NFU’s calls for a pause in the implementation of the policy, while a full consultation is carried out.”
Sainsbury’s
Simon Roberts, chief executive of Sainsbury’s, said: “We are proud of our 150-year partnership with British farmers. These relationships are incredibly important to us and the resilience of the UK food system.
“I would urge the Government to work closely with farmers to make sure they listen to their concerns, because we need a successful, productive and thriving food system to make sure that we can produce what we need here in the UK for our customers.”
Asda
A spokesperson from Asda said: “Farming is a vital part of our supply chain. We need a confident farming sector which is able and willing to invest in its future.
“We have been raising our concerns with Government and will be supporting the NFU’s campaign calling for a pause in the implementation of APR to allow for proper consultation.”
Ocado
Ocado stated: “We’re committed to supporting British farmers and know how hard they work day in, day out.
“We join the NFU’s call for a consultation on inheritance tax – the proposed increase will impact farmers’ ability to continue developing a resilient British food system.”
Co-op
In an email to suppliers, Co-op said: “I would like to confirm that we have directly contacted relevant Government departments to communicate our hope that they will look again at the impact of the IHT/APR changes.
“We have also agreed to sign the UK Farming Unions letter going to the Government imminently, thereby joining the call for a re-consideration of the proposed tax changes.”
