NFU President Tom Bradshaw recently attended NFU Cymru’s annual Pembrokeshire County Conference where he addressed members on a number of issues including the proposed changes to inheritance tax rules for farmers.

At the meeting on Thursday, January 23, Mr Bradshaw started by setting out the challenges farmers across the country continued to face on a daily basis and thanked those in the room, but also the general public for their support of farmers.

Mr Bradshaw also thanked the retailers that had raised concerns about the inheritance tax changes.

He said: “Tesco, Morrisons, Asda, Coop, Lidl, Ocada and Aldi have all publicly shared their concerns over the government’s proposed changes to inheritance tax, with more major retailers expected to follow suit. These supermarkets have called for the government to pause and consult after talks with the NFU.

“This has come after we launched a pledge for industries allied to farming to sign in support of the #StoptheFamilyFarmTax campaign. These huge food retail businesses that 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.”

Mr Bradshaw also highlighted a statement released the day before by the Office for Budget Responsibility (OBR), which oversees government fiscal policies, which stated that government changes to inheritance tax on farms will likely leave elderly farmers horribly exposed, with no time to manage their way through the new policy.

In the report on the measure, the OBR says that it is ‘highly uncertain’ whether the measures will raise the £500m the Treasury – which did not consult with anyone before launching the changes – claims it will raise. The report goes on to say, ‘It is likely to be more difficult for some older individuals to quickly restructure their affairs in response to the measure’.

Mr Bradshaw said: “This OBR report confirms what we have repeatedly warned since Budget Day; that it will be older farmers who will be hardest hit by the government’s misguided family farm tax. One minute they were advised to keep their farms until death to pass them on to the next generation, the next they’re left knowing that if they live beyond April 2026 when the measures come in, their children may have to break up or sell the farm. What an appalling position to put elderly people in.

“I outlined the terrible human impact on elderly farmers explicitly when I met the Prime Minister, and in a personal letter I wrote to Chancellor Rachel Reeves and again in front of the recent Efra Select Committee. At every stage the government has consistently ignored what we have been telling them about this abhorrent policy. Is it now going to ignore the OBR too?

“And given the OBR says it’s highly uncertain it will raise the expected amount of money either, surely it is time for ministers to accept this policy needs the proper consultation it never had?”

NFU Cymru President Aled Jones also addressed the conference, providing members with an update on the union’s lobbying work across a number of areas including Welsh Government’s Sustainable Farming Scheme, water quality, bovine TB and the recent UK Government’s family farm tax.

Speaking after the meeting, NFU Cymru Pembrokeshire County Chairman Maarten Davies said: “We are thankful to Tom Bradshaw for taking time out of his extremely busy schedule to come and talk with us. Along with members across the country we are extremely grateful for the work he is doing to fight for our future.

“It was also good to welcome NFU Cymru President Aled Jones to give an update on the volume and variety of work being undertaken by the NFU Cymru team on behalf of members.”