Labour have introduced a Family Farm Tax in their Budget that could have devastating consequences.
Labour's changes to agricultural property relief could be catastrophic for the future of farming in the Borders.
There is a serious risk that family-run farms will be forced out of business.
Farmers will now fear being hammered by hefty tax hikes and the knock-on consequences across our local economy could be severe.
NFU Scotland said that “changes to Inheritance Tax and Agricultural Property Relief will affect the liquidity on succession for farms above the £1 million threshold set, hitting many family farms, regardless of size or type."
They added that "decisions to reinvest in these farming businesses will be shelved and the knock-on ramifications for the wider rural economy, and businesses up and downstream will be significant.
Sign our petition to oppose this move here.
