Summary
A farmer in Northamptonshire is asking for government help with costs in the upcoming Budget announcement. He is particularly concerned about planned changes to inheritance tax, which could impact family farms. The farm has diversified into other businesses to manage costs and is affected by interest rates.
Key Facts
- Ben Aveling, a farmer, hopes the Budget will help reduce farm costs.
- His family runs a 300-acre farm near Towcester, Northamptonshire.
- The farm has diversified into an online meat business and glamping.
- Aveling wants a U-turn on planned inheritance tax changes for farms.
- Inherited farm assets over £1 million will face a 20% tax from April 2026.
- The UK government offers a £1 million investment allowance for farms.
- Current interest rates, set by the Bank of England, impact farm loans.
- Chancellor Rachel Reeves aims to lower inflation and living costs.
