'I'm a farmer - just one year under Labour has ruined my life'

A 46-year-old farmer from Derbyshire says the last 12 months under Labour have "changed his life". Stephen Wainwright, whose family runs a 400-acre upland sheep and beef farm in the Hope Valley, said the government's introduction of a 20% inheritance tax on agricultural assets worth over £1 million had put the firm in a perilous financial spot, but warned that the issues also run deeper.

A rise in cheaper foreign imports and high production costs has made the business enterprise increasingly difficult stretching back decades, Stephen said. The last few years have seen a concentrated effort to keep the site going for the sake of his children. "Everyone's in a difficult position, but upland farms have it even harder because we can't grow grass all year," he said. "We used to have subsidies which have since been phased out and sheep prices have risen. We're still just about managing but we had to diversify through tourist accommodation." The Daily Express has called for the government to backpedal on the IHT plans as part of the Save Britain's Family Farms campaign.

"For the few months a year when we're not selling animals, the diversification plugs that gap," Stephen said. "We still have to be careful with money - like any business, you work a bit harder, take extra jobs on, don't take lavish time off. To be hit with higher costs after all that doesn't seem fair."

The 46-year-old runs the farm in a multi-partnership with his mother and father, George and Sheila, and brother Richard. Unlike some other farmers who own their land, the family have bought some of the 400-acre estate, while they continue to rent and are in the process of buying other parts of it. They are also still paying off a mortgage on the estate.

It adds up to a complicated tax bill that Stephen still expects to total around half a million. Now, he says, the only way his kids will realistically benefit from the farm is if they're handed the money from its sale.

"The last 12 months have changed my life," he said. "It's hard to believe when you see the government on the TV saying they don't know what farmers are moaning about.

"What seems especially unfair is that the diversification we've done to make ends meet has increased the asset value. And Labour is just rubbing their hands together."

He also criticised the IHT threshold of land worth £1 million - warning that the family's farmhouse alone would put them over the line. "Most farmers would be quieter if it was moved up to £5 million," he added. "That would show that the government is willing to listen.

"Those costs include tractors, machinery, even the working dogs count towards the farm value. When the IHT change was first announced, I thought, 'I don't need to worry about this, they're just going for the rich'. That's who they should be targeting - the people who bought agricultural land to avoid paying tax. Not normal family businesses just trying to feed the nation."

A government spokesperson said: "This government is backing farmers with the largest nature-friendly budget in history to grow their businesses, get more British food on our plates and help restore nature.

"Our new trade deals with India and the US create opportunities for our farmers and growers and we've also appointed former NFU president Baroness Minette Batters to recommend new reforms to boost farmer's profits. Our reforms to Agricultural and Business Property Relief are vital to fix the public services we all rely on."