Tax row will put young people off farming, M&S boss says

M&S boss criticizes inheritance tax changes that could deter young farmers, impacting confidence in the industry. The new tax policy from April 2026 targets inherited agricultural assets above £1m at a reduced rate of 20%, potentially discouraging new entrants to farming. Agriculture industry experts, like Steve McLean of M&S, are highlighting concerns over the impact on young farmers' prospects and the need for differentiation in tax policies for agriculture. The government defends the reforms, suggesting they are crucial for public services, but the criticism persists, especially in farming communities like Wales.