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Farmers’ pension plans are at risk because of the chancellor’s raid on inheritance tax
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Farmers’ pension plans are at risk because of the chancellor’s raid on inheritance tax

Around 20,000 farmers will protest outside Parliament on Tuesday, with Clarkson’s Farm stars Jeremy Clarkson and Kaleb Cooper expected to be among them.

While the Treasury insisted the change would only affect a small number of farms, critics warned it could affect Britain’s food security.

Sir Keir Starmer, who is in Brazil for the G20 summit with world leaders, stood firm on the decision, pointing out that the budget includes a record £5bn commitment to agriculture.

Speaking to reporters on a flight to Rio de Janeiro, he said: “Obviously there is an inheritance tax issue and I understand the concern.

“But for a typical case, which is parents with a farm that they want to pass on to one of their children, by the time you’ve factored in not only the exemption for the farm itself, but also the exemption for the spouse. spouse, then parent to child, is £3m before any inheritance tax is paid.

“That’s why I’m absolutely confident that the vast majority of farms and farmers will not be affected by this.”