Morrisons backs farmers against new inheritance tax proposed by UK Chancellor

Morrisons, a major UK supermarket, has publicly supported farmers opposing a new inheritance tax introduced by Chancellor Rachel Reeves. The tax, effective from April, will apply to farms valued over £1 million, affecting over 70,000 farms. Sophie Throup, Morrisons' Head of Agriculture, expressed solidarity with farmers in a video, acknowledging their anger and concerns about the tax's impact on family farms. She stated that Morrisons has been raising these issues with the government since November. The National Farmers Union and political figures have criticized the tax, calling it destructive and unfair. In response, Reeves defended her policy as a necessary measure for public finances, claiming it remains fair for farmers.