Morrisons joins farmers in fight against Budget tax hike
Morrisons shows its support towards the farming community, backing its call for urgent reforms to inheritance tax policies on farms following Rachel Reeves’ October Budget.
In a LinkedIn video released on Saturday, Sophie Throup, the supermarket’s head of agriculture, emphasised the major Morrisons’ ongoing advocacy, reeling from the Chancellor’s sweeping inheritance tax levy.
In October, Reeves cancelled the exemption for inheritance tax for farms and other agricultural assets valued over £1 million.
This means that they will be subjet to a 20 per cent levy starting April 2025.
“We share your concerns about the long-term future the inheritance tax is going to have on farms, particularly, smaller, family farms, and we know that you want something done about it”, continued Throup.
She also emphasised that the supermarket have been raising the issue at government level since November 2024, “and we will continue to do so”.
Promising continued support from the leading supermarket, Throup invited farmers to reach out for assistance, reinforcing its commitment to their cause.
“We know its important, we are with you, were here to help you, and if you want to talk to me, please message me. We are here to help”, she said.
Mo Metcalf-Fisher, external affairs director at Countryside Alliance, described this move as a “major development in the ongoing fight to get Keir Starmer and Rachel Reeves to see sense”, he told Express UK.
Mr. Metcalf-Fisher urged other supermarket chains to follow Morrisons’ lead, saying: “We hope more supermarket chains stand with farmers and use their might to help force a government rethink before it’s too late.”