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.<\/p>\n
Ahead of Christmas, the Government announced it would lift the threshold from \u00a31million to \u00a32.5million in a festive win for farmers up and down Britain.<\/p>\n
“It’s definitely a better Christmas than we thought we were going to have,” Mr Harrison told GB News. <\/p>\n
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.<\/p>\n
“I would think that there’s still around 50 per cent left in. <\/p>\n
“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. <\/p>\n
“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. <\/p>\n
“But I think there is still more to be done.”<\/p>\n
WATCH THE CLIP ABOVE FOR MORE<\/p>\n
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