Chippenham Lib Dem MP warns Wiltshire’s farmers are being hammered by “Family Farm Tax”
The party is also demanding that the Government scrap its planned Family Farm Tax.
Liberal Democrat MP for Chippenham, Sarah Gibson, has warned that Wiltshire’s farmers are being “squeezed from all sides” after new analysis revealed a huge drop in incomes for livestock farmers, while Labour’s planned inheritance tax changes threaten the survival of family farms.
Government figures show that average livestock farming incomes fell to £391,100 in 2023/24, a real-terms fall of 20% from £491,600 the previous year. This collapse has been driven by rising costs, tighter profit margins, and a sharp fall in the price farmers are paid for milk.
Commenting on the figures, Sarah Gibson MP said: "Commenting on the figures, Sarah Gibson MP said:
“Local farmers who put food on our tables and look after our countryside are being squeezed from all sides. Farming families are the backbone of our rural economy. "