The Chair of the Senedd’s Economy, Trade and Rural Affairs Committee Andrew RT Davies has called on the Government to scrap its family farm tax.
Speaking at the Royal Welsh Winter Fair, the Conservative MS said the tax would prevent the next generation of farmers entering the industry.
The Government is set to scrap Agricultural Property Relief from April next year, which means farming families face huge inheritance tax bills.
Mr Davies warned the only way the next generation will be able to pay the bills will be to sell their farms.
He warned that agricultural land would instead be bought up by wealthy speculators – who will see it as a financial asset, instead of using it to produce the food to feed our nation.
Mr Davies said:
“The family farm tax will be the death of Welsh and British farming.
“Agricultural land is not a mere financial asset – it is the means by which we produce the food to feed our nation.
“But this will only continue if the next generation continue to farm – this tax will force them out of the industry, making food more expensive for all.”
ENDS
PHOTO: Andrew RT Davies meets with farmers at the Royal Welsh Winter Show