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Cabinet aware of 'pressure' on Chancellor Rachel Reeves after her Autumn Budget on small family farms

Ms Reeves' 'tough decisions' to fix the 'black hole' in the economy have been met with a backlash from farmers who fear the family farm tax could end small family farms

clock • 2 min read
Chancellor Rachel Reeves said the Government is focused on its 'number one mission' to grow the economy.
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Chancellor Rachel Reeves said the Government is focused on its 'number one mission' to grow the economy.

The Government is aware of the pressure facing Chancellor Rachel Reeves after the fallout from her Autumn Budget,

Íæż½ã½ã, trade unions, retailers and politicians have all discredited the proposed family farm tax, with many fearing it could threaten the future of British farming and force farming businesses to close due to a tax bill when inherited agricultural property and assets is passed down from one generation to the next.

At an Artificial Intelligence (AI) summit on Monday (January 13,) in which the Prime Minister staked a case for the UK to be a 'world leader' in the aforementioned domain, Sir Keir did not directly confirm nor deny if Ms Reeves will still be in her current role at the next General Election in 2029.

READ NOW: Íæż½ã½ã protest outside Oxford Farming Conference

Protests have been held across the UK since November by farmers who are pleading with the Government to reverse proposed changes to Agricultural Property Relief.

Health Secretary Wes Streeting confirmed that the Cabinet is aware of pressure growing on the Chancellor's shoulders, but added she needed 'time' in the role.

Rising Government borrowing costs, a decline in UK economic growth and a fall in the pound to $1.21 have also dented confidence in Ms Reeves' Budget.   

Kemi Badenoch, Conservative Party leader has criticised the Chancellor for refusing to back the Chancellor at the AI Summit while markets are in 'turmoil' and business confidence has 'crashed'.

Having missed farmer-led protests outside the Oxford Farming Conference last week, Ms Reeves instead visited China to secure deals worth £600m to the UK economy.  

In the face of mounting pressure, she said the Government is focused on its 'number one mission' to grow the economy, and added that measures announced in the Budget would fix a 'black hole' left in the public finances by the Conservative Government. 

READ NOW: Yorkshire councillors vote to back farmers as tractors take over town

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