MP Caroline Voaden has slammed the Government for refusing to listen to farmers, following reports that the Chancellor does not plan to amend or repeal the damaging Family Farm Tax in next month’s Budget.

The South Devon MP has supported the rural community in their campaign to reverse this tax since it was introduced last year. Despite being warned that their policy could lead to a lost generation of farmers, the Government has not budged.

Shortly after the policy was announced, Caroline surveyed South Devon farmers to gauge what the impact could be. The results were heartbreaking: nearly half said they faced a £300,000 inheritance tax bill, with the highest bill standing at £3m.

Caroline has heard from farmers whose farms have been in their family since the Domesday Book that are now fearing selling off their land to cover the bill.

Voaden said: “I am disappointed at the Chancellor’s completely tone-deaf refusal to reverse the family farm tax. South Devon is covered with family farms and every single one I visit is deeply concerned about the impact of this tax.

Chancellor Rachel Reeves insists that 72% of farms will be unaffected by the tax change, estimating around 500 claims each year will fall within its scope.

Currently, farming estates can pass on assets worth up to £1.5 million tax-free to children or grandchildren, rising to £3 million for jointly owned farms. But the Country Land and Business Association (CLA) warns that as many as 70,000 UK farms could be caught in the tax net within a generation.

“Farmers who are now the fourth or fifth generation of their family working the land are now scared that their children won’t be able to continue this valued tradition,” continued Voaden. “I’d like the Chancellor or the Farming Minister to come to South Devon and visit some of our family farms so they can hear and see for themselves the impact this policy will have.”