Iceland’s Richard Walker criticizes Labour’s farm tax, claiming it harms farmers.
London: The boss of Iceland, Richard Walker, is not happy. He criticized Rachel Reeves’ new farm tax after supporting Labour in the election.
Walker, who leads the supermarket chain, said the Chancellor is making a mistake. He believes the new tax will hurt hardworking British farmers.
Reeves announced a change in the Budget. Starting April 2026, inheritance tax relief for farms will be capped at £1 million. Anything above that will be taxed at 20%.
Farmers are upset. They say this tax could force them to sell family land. Many have protested in Whitehall, hoping to change the Chancellor’s mind.
Walker told the Telegraph that the Treasury should focus on fair tax policies. He believes they are targeting the wrong group by going after farmers.
He also mentioned that high streets and farmers are vital to the country. They need support, not more taxes.
Interestingly, Walker supported Labour during the General Election. Tory MP Kevin Hollinrake pointed this out on social media.
In a past article, Walker praised Labour leader Keir Starmer. He believes Starmer can lead the party to success and help communities thrive.