Cornish dairy farmer fears 200 years of family farming may 'come to an end'
Watch our report from Marina Jenkins
A dairy farmer from Cornwall fears 200 years of family farming may "come to an end", following proposed changes to agricultural inheritance tax.
The Dark family has farmed for nearly two centuries, and since 1988 they have been based at Trudnoe Farm in Mullion, near Helston.
The farm is currently run by Stephen Dark and his brother, who told ITV News he's proud of its heritage and business.
The farm spans 277 acres and has a herd of 235 cows. It supplies Rodda's with cream and liquid milk, producing more than 2.5 million litres a year.
In October's budget, the government announced that from 2026, farmers would have to pay 20% inheritance tax on farms valued more than £1million.
But Stephen says this proposed changed is unaffordable.
Stephen said: "You know if this policy is introduced as it currently stands, it’s just demoralising and almost sucking the lifeblood out of the next generation."
As his father is 94 years old, Stephen is now looking to the future and concerned about this change could impact their family and business.
"I know there’s been the argument that farmers are asset rich, but the returns that we’ve been receiving over recent years and with costs going up, there’s not enough profit created to allow for reinvestment in the business," he said.
"If we are then faced with a large inheritance tax bill as well, it’s going to be unaffordable, and may all come to an end," explained Stephen.
On 19 November, Stephen was one of 10,000 farmers who brought Westminster to a standstill in protest, urging the government to backtrack on its inheritance tax policy.
Stephen said: "When the Labour government came in, they said they were hoping for small businesses to grow and growth to be the buzzword of this new government.
"But this is going to have a devastating effect on family farms. Prior to the budget, the best advice was always for the farm and land to be handed over on death and we’re stuck in limbo at the moment."
The government has maintained since the announcement that Treasury figures show around 500 of the wealthiest landowners will be hit by the changes - and is remaining firm that the changes will be rolled out in full.
"Wealthier estates and the most valuable farms pay their fair share to invest in our schools and health services that farmers and families in rural communities rely on," the government stated in November.
But Stephen believes that farms have already been stretched enough in recent years, with climate change and soaring costs. He is now concerned this change will be a step too far.