CLA comments on CenTax report on inheritance tax published today
The CLA (Country Land and Business Association) has commented on a report undertaken by CenTax
(Centre for the Analysis of Taxation) which provides an assessment of how the Government’s
Inheritance Tax reform will affect farm estates.
The CenTax report states that IHT reform largely protect family farms but could be better
targeted. Read the CenTax press statement here .
Country Land and Business Association (CLA) President Victoria Vyvyan said: “Labour’s favourite
think tank has decided that a Labour Government’s policy is fundamentally good. That is no shock.
Just like Treasury Ministers, however, CenTax has used a tiny amount of data to justify their view,
and failed to speak to a single farmer or family business owner. If they had, they would understand –
and I hope, care more – about the devastating consequences of the policy on the economy.
“These reforms to inheritance tax will cost the Exchequer £2bn, with 200,000 jobs lost and £15bn
in lost economic activity. This is the reality of what is happening. Enough of this nonsense, it is time
for Sir Keir Starmer to show some leadership and tell Treasury Ministers they have it wrong and
must change tack for the good of the country.
“While a higher relief threshold would help some businesses, it would only minimise the damage,
not remove it entirely. In considering any alternatives Treasury must become more willing to work
with businesses and entrepreneurs to understand how growth can be stimulated for businesses of
all sizes, rather than steamrollering through such a short-sighted and damaging policy.”
