Inheritance Tax Having ‘Chilling Effect’ on Scottish Farmers, Says First Minister

Scotland’s first minister has said changes to inheritance taxes are having a “chilling effect” on Scottish farmers, leading to “unacceptable levels of stress, worry, and uncertainty.” John Swinney said that the Budget “could scarcely have been more indifferent to the needs of rural communities and the rural economy,” and called for a tax system that supported the orderly transfer of farms from one generation to another. The head of the devolved government said on Wednesday: “I know this is already having a chilling effect on farming and rural businesses. The UK government must urgently commit to undertake and publish impact assessments on its budget proposals on farmers and crofters [small farm owners] in Scotland.”...