Around 13,000 farmers from across the UK gathered in London on Tuesday to protest a new farm inheritance tax policy, arguing that the tax will place a significant burden and destroy family farms across the country.
The Chancellor of the Exchequer, Rachel Jane Reeves, announced an end to inheritance tax exemption for farms in October. According to the new rules, the full relief from inheritance tax will be capped at one million pounds (around 1.27 million U.S. dollars), with 20 percent of the tax being charged above that.
While the UK Treasury claims that 72 percent of farms in the country will not be affected, farmers contend that the values of farms are underestimated, and the new policy will impact 66 percent. Many fear that they will have to sell lands to cover tax costs.
"I'm a third-generation farmer, and my children would, hopefully, one day, take on the farm as well. So, yeah, it's very important for us to try and make the government realize that this is going to be a huge impact on our lives and our future. To me, obviously, if with a tax that they would, you know, put on us when my father passed away, and my mother, and also for myself, for our children, the farm will disintegrate, and we'd have to sell the farm to pay the tax. That would stop us farming," said a UK farmer participating in the protest.
Despite the backlash, Prime Minister Keir Starmer insists that the policy aims to prevent wealthy landowners from committing tax evasion by purchasing farms.
UK farmers protest against farm inheritance tax
China is willing to continue working with Russia within the framework of the United Nations (UN) Security Council, maintain timely communication on major issues, and make joint efforts to help de-escalate the situation in the Middle East, safeguard regional peace and stability, and uphold common security for the world, Chinese Foreign Minister Wang Yi said on Sunday.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks in a phone conversation with Russian Foreign Minister Sergei Lavrov.
China and Russia, as permanent members of the UN Security Council, should uphold fairness and justice on matters of principle, adopt an objective and balanced approach, and seek greater understanding and support from the international community, Wang said.
Noting that China has consistently advocated the resolution of international and regional hotspot issues through dialogue and negotiation, Wang said that the situation in the Middle East continues to deteriorate, hostilities are still escalating, and the fundamental solution to ensuring navigation through the Strait of Hormuz lies in achieving an early ceasefire and bringing the war to an end.
For his part, Lavrov said Russia is highly concerned about the continued escalation of tensions in the Middle East.
Regarding the ongoing conflict and the issue of the Strait of Hormuz, Lavrov said Russia maintains that military operations must be stopped immediately and efforts should return to the track of political and diplomatic settlement to address the root causes of the conflict, and the UN Security Council should play a constructive role in this regard.
Russia stands ready to maintain close communication and coordination with China and continue to make efforts and speak out in support of a ceasefire and the end of the war, he said.
China willing to cooperate with Russia to de-escalate Mideast situation: FM
