UK's 'Tractor Tax' Faces Backlash Over Job Losses and Economic Impact

The proposed 20% inheritance tax on high-value farms and businesses is projected to cost 200,000 jobs and £14.9 billion in economic losses.

New research suggests the 'tractor tax' could lead to 208,000 job losses and £14.9 billion in economic damage by the next election.
Nearly a quarter of family businesses and one in five family farms have already cut jobs or paused recruitment since the tax was announced.
The Treasury claims only farms worth £3 million or more will be affected, but Defra figures indicate up to 66% of family farms could face the tax.
The Office for Budget Responsibility has warned the tax may generate less revenue than anticipated, with high uncertainty in projections.
Farmers and business groups continue to protest the policy, arguing it harms rural communities and family-run enterprises, while the government defends it as necessary to address a £22 billion deficit.