One of the worldâs most recognisable rural brands has thrown its support behind farmers who have been left furious at the new changes to inheritance tax rules, saying itâs essential that we âlook after the people who feed us.â
Ahead of a huge farmer protest expected in London tomorrow in what is already being dubbed ârural Englandâs revolution,â French-based tractor producer Massey Ferguson, a subsidiary of US-based AGCO, has become the first international manufacturing firm to weigh into the debate that kicked off in the wake of Labourâs first Budget where Rachel Reeves imposed a new tax on family farms.
The chancellor has provoked outrage with the âtractor taxâ by extending death duties to farms worth £1m or more at a rate of 20 per cent. Farmers have warned it will be the death of their sector unless Ms Reeves performs a U-turn.
Massey Fergusonâs UK, Ireland, and Middle East sales promotion manager Lindsay Haddon agreed the company âof courseâ held concerns about the impact of the new tax on farmers.
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