Morrisons has stepped up to champion the farming community by supporting the urgent call for overhauls to inheritance tax legislation on farms, in light of Rachel Reeves’ October Budget revelations.
A LinkedIn video which went live on Saturday features Sophie Throup, Morrisons‘ head of agriculture, drawing attention to the company’s active advocacy, particularly after the Chancellor’s comprehensive inheritance tax changes announced in October, as reported by City AM.
Reeves removed the inheritance tax exemption for farms and other agricultural properties valued above £1 million, indicating they will face a 20 per cent tax from April 2025. “We share your concerns about the long-term future the inheritance tax is going to have on farms, particularly, smaller, family farms, and we know that you want something done about it”, Throup explained in the video.
She further highlighted that Morrisons has been bringing this issue before the government since November 2024, and will persist in these efforts. Throup’s message on behalf of Morrisons pledged unwavering support and extended an invitation to farmers seeking aid, reinforcing the supermarket’s dedication to their plight.
“We know its important, we are with you, were here to help you, and if you want to talk to me, please message me. We are here to help”, she encouraged. Mo Metcalf-Fisher of the Countryside Alliance hailed this as a “major development in the ongoing fight to get Keir Starmer and Rachel Reeves to see sense”, according to his comments in Express UK.
Mr. Metcalf-Fisher called on other supermarket giants to take a leaf out of Morrisons’ book, declaring: “We hope more supermarket chains stand with farmers and use their might to help force a government rethink before it’s too late.”
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