𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

Speaking to the Express, Mr Bailye, who has two sons he says are unlikely to be able to afford to inherit his third-generation family farm, said members of his ‘Farming Forum’ are “terrified about what Labour will come for next”.

His forum, which sees 40,000 visitors a day, acts as a “real connection” for farmers across the country, and he says many are “worried they just won’t survive this”.

One of his concerns is the rumoured implementation of another tax on farms, the so-called ‘Mansion Tax’, which Mr Bailye claims could include a large number of farmers’ homes.

He stresses that the “large majority” of farmers do not have access to the sort of cash needed to pay the new tax obligations dropped onto them by the Family Farm Tax.

“They are asset rich in some cases, but cash poor,” he stresses. Mr Bailye says that the introduction of the tax has stopped many farmers investing in new equipment for their farms, as “it just adds to the taxes our kids would need to pay”.

As a result, he said, “the entire industry is contracting”.

“There’s a complete lack of clarity and confidence in the sector. Its already haring our industry,as nobody is spending any more.

“Why would you invest in your farm if all you do is make the tax problem biller for your kids?

“They said it was meant to help the farming industry, when all it has done is cause the sector to contract.”

The Government maintains that reforms to the taxes paid by farming families are vital to fix public services, suggesting that three quarters of estates will continue to not pay inheritance tax, a claim Mr Bailye says is “rubbish”.

A spokesperson said that farmers were “stewards for our nation’s land and for our food security” and that the sector played a “central role in our mission to kickstart economic growth”.

They added: “That is why we are backing them through new technology, streamlined regulation and our nature-friendly farming schemes that are helping farmers produce food for the nation.”