Charity tractor run will go ahead despite farmers’ withdrawal following Budget announcement
7th November 2024
A Christmas tractor run will go ahead despite “considerable number” of farmers deciding not to take part following changes to inheritance tax that were announced at the Autumn Budget.
The charity Christmas tractor run, organised by Sheepy Ploughing Association, will take place on Friday and Saturday, 6th and 7th December. The tractors will drive through Nuneaton, Bedworth and Coventry.
According to Coventry Live, the Christmas tractor run committee members held an emergency meeting on Sunday, 3rd November, following the decision made by some farmers to not take part in the event.
In a statement, the committee said: “There is a huge amount of fear in the industry for the damage that has been done by this government and their Autumn Budget to family farming, food security and the local rural economy.
“Morale within the farming community is at an all-time low, and many are feeling let down and betrayed.”
READ MORE: Chancellor announces “hammer blow” reforms to agricultural property relief
READ MORE: Farmers may face ‘one obstacle too many’ following Ag Budget announcement
Consequences of changes to inheritance tax
Many farmers across the country have voiced their dissatisfaction with changes to the inheritance tax for UK farms that were announced by chancellor Rachel Reeves last week.
From April 2026, the first £1 million of combined business and agricultural assets will continue to attract no inheritance tax at all, but for assets over £1 million, inheritance tax will apply with 50% relief, at an effective rate of 20%.
The organisers of the Christmas tractor run said that this decision will go “far beyond farming and food security”, as farmers will be able to contribute less to the local economy and it could also hit local produce.
Those taking part in the parade have also asked locals to do one thing while enjoying the procession to hold ‘No Farmers No Food’ posters, showing their support for local farmers.
Support the 2024 Sheepy Ploughing Xmas Tractor Run for Birmingham Children’s Hospital, Warwickshire & Northamptonshire Air Ambulance and Lens Light here.
READ MORE: Petition to stop inheritance tax changes reaches over 125k signatures in two days
READ MORE: NFU meets with Defra and Treasury to discuss miscalculation of Inheritance Tax impact
Read more rural news.
