Rachel Reeves

Sarah Baker, AHDB head of economics, said: "These changes may encourage farmers to think about succession earlier than they would otherwise. For example, there is a seven-year rule which applies in the case of land transfers. This means that any land gifted to an individual will be free of inheritance tax after seven years."

NFYFC's YFC agri chair Luke Cox said the proposed tax and wage changes 'threaten the continuity and viability of farm farms and rural diversification businesses'

The group has warned the changes could ‘change family farming as we know it’

Rural accountant Old Mill has suggested practical steps farmers can take

Industry experts start to unpick what the changes to Inheritance Tax (IHT) reliefs mean for the farming sector

AHDB economics and analysis director David Eudall warned the industry was at a 'tipping point of how effective the Budget can be' in balancing food security, supporting farm efficiency, and delivering environmental benefits

The Farmers Guardian news team give their analysis of the Chancellor's Budget

What do you think of Labour's budget? How does it impact your farm? Share your reaction with us

The CLA is asking farmers and rural businesses to sign a letter which will be forwarded to MPs