THE MP for North Cornwall has urged treasury ministers to reconsider the government’s proposed changes to inheritance tax aimed at farmers.

The calls from Ben Maguire come following a meeting with the chief secretary to the treasury, James Murray MP.

The meeting was held just one week after the MP hosted a Cornish Farming Summit in Parliament, where farmers from across the Duchy raised concerns about the impact the proposed reforms to Agricultural Property Relief (APR) and Business Property Relief (BPR) would have on their farms and surrounding communities.

At the summit, Mr Maguire discussed a number of fairer, evidence-based alternatives put forward by the Centre for the Analysis of Taxation (CenTax) and supported by the NFU.

Among alternatives are a minimum share rule, granting up to £5-million in combined APR and BPR relief for genuine family farmers, which he says would raise an estimated 71 per cent more tax revenue than the current government proposal.

He has also suggested an upper limit on relief, offering 100 per cent relief on the first £2-million of assets and 50 per cent relief up to £10-million, raising equivalent revenue while protecting family farms.

Commenting, Mr Maguire said:"I met with farmers from every corner of Cornwall last week, and their message was clear: these tax changes will devastate family farms unless Ministers urgently rethink their plans.

"As a result, I pressed the Chief Secretary to the Treasury personally to take these concerns seriously and to look carefully at credible, fairer alternatives like those put forward by CenTax and the NFU. These options would actually raise more revenue, without punishing genuine working farmers who are already under immense financial and mental strain.

"Farming families are the backbone of North Cornwall. I promised to continue fighting their corner in Parliament every step of the way, and that is exactly what I intend to do."