WELSH nationalists called on the Westminster government today to introduce a wealth tax instead of targeting farmers.

On the opening day of the Royal Welsh Show, Plaid Cymru MP and agriculture spokeswoman Ann Davies called on the British government to reverse its planned changes to agricultural property relief.

The government plan to introduce a cap on relief from April 2026 means family farms valued above that threshold could face inheritance tax for the first time in 40 years.

Plaid Cymru is calling for a Wales-specific impact assessment that includes tenant and generational family farms, protection for active food-producing family farms from inheritance tax and the introduction of a wealth tax on assets worth more than £10 million

“After countless U-turns, Labour must now add its damaging farm tax to the list — it will do lasting harm to Welsh family farms,” Ms Davies said.

“A 2 per cent tax on assets worth over £10 million could raise over £20 billion a year.”

The Farmers Union of Wales (FUW) will launch its latest report at the Royal Welsh Show tomorrow.

Dubbed A Mandate for Future Farmers, it highlights the challenges facing young and new entrant farmers in Wales and sets out recommendations for the Welsh and UK governments, and the wider farming community.

It highlights significant barriers preventing young people from entering farming, including high land prices and access to finance.

Only 3 per cent of farmers in Wales are under the age of 35.