Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Supermarket giant Morrisons backs farmers as inheritance tax row lands blow to Starmer

by January 13, 2025
January 13, 2025
Supermarket giant Morrisons backs farmers as inheritance tax row lands blow to Starmer

In a setback for Prime Minister Sir Keir Starmer, one of Britain’s biggest supermarkets has publicly thrown its support behind farmers opposed to the Government’s planned inheritance tax (IHT) reforms.

Sophie Throup, head of agriculture at Morrisons, posted a video message on X (formerly Twitter) declaring the retailer’s solidarity with farming communities, who are preparing to protest nationwide on Friday over what they call a “devastating” tax raid on family farms.

The new levy, which comes into force in April 2026, will impose a 20 per cent inheritance tax on farming estates valued over £1 million. Although this is half the standard 40 per cent IHT rate, the move has sparked fears that smaller, family-run farms could be forced to sell off land or face crippling financial burdens. Under current rules, individuals can transfer their estates tax-free if they live for another seven years, but the new measure would significantly tighten reliefs for agricultural property.

Ms Throup said Morrisons had raised “concerns at the highest level of government” since the policy was announced last autumn, telling farmers she “understands your anger and frustrations” and inviting them to contact her directly. While many welcomed the supermarket’s intervention, others questioned whether it was more of a public relations gesture than a genuine willingness to fight on farmers’ behalf.

Some farmers questioned the supermarket’s committment to their cause, suggesting it might be a PR opportunity Credit: Jamie Lorriman

Mo Metcalf-Fisher, external affairs director at the Countryside Alliance, hailed the supermarket’s intervention as a “major development” in attempts to convince both Sir Keir Starmer and Chancellor Rachel Reeves to reconsider the proposal. Some farmers remain sceptical, however. Clive Bailye, founder of online platform The Farming Forum, pointed out that supermarkets have traditionally been tough negotiators on prices and questioned their real motives.

The Government insists it has no plans to back down. A spokesperson said that under its “fair and balanced” reforms, farmers still benefit from a reduced IHT rate of 20 per cent, payable interest-free over a decade, while pointing to a £5 billion investment in agriculture over two years. Despite these assurances, tensions remain high, with protests scheduled and the National Farmers’ Union confirming it has lobbied retailers to push for a more favourable outcome. Whether Morrisons’ show of support translates into actual policy change remains to be seen.

Read more:
Supermarket giant Morrisons backs farmers as inheritance tax row lands blow to Starmer

0
FacebookTwitterGoogle +Pinterest
previous post
Trudeau says 51st state is distraction from Trump tariff threat, acknowledges facing ‘successful negotiator’
next post
Certificate of Need Laws and Health Care Expenditures

You may also like

Uncover Egypt Mysteries: Educational Opportunities on the Nile

July 26, 2024

Soaring Delivery Fees and High Street Resurgence Fuel...

May 28, 2024

Small Steps, Big Results: How A Credit Builder...

February 16, 2024

eBay UK launches climate training scheme for SMEs

May 12, 2023

Lloyds and Halifax to shut 40 branches as...

January 23, 2023

Guide to safe and ethical use of facial...

April 11, 2024

Shell will not pay any windfall tax despite...

October 28, 2022

JPMorgan Chase Invests £40M to Empower Britain’s Disadvantaged...

May 14, 2024

How to Maximise Earnings with a 7 Seater...

April 24, 2025

Does Your Business Need Contact Centre As A...

February 1, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Gold set for steepest weekly drop in six months as trade fears ease and dollar strengthens

      May 16, 2025
    • Aviva warns against forcing UK pension funds to buy domestic assets

      May 16, 2025
    • Wireless Logic valued at £3.5bn as founder sells minority stake to General Atlantic

      May 16, 2025
    • UK business investment surges at fastest pace in two years, defying tax hike fears

      May 16, 2025
    • NatWest nears full reprivatisation as taxpayer stake falls below 1%

      May 16, 2025
    • Gabbard says Comey should be ‘put behind bars’ after picture allegedly ‘issuing a call to assassinate’ Trump

      May 16, 2025

    Categories

    • Business (7,974)
    • Investing (1,964)
    • Politics (15,241)
    • Stocks (3,085)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved