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With some farmers angry with the government over inheritance tax rules and changes to farm payments, why would a young person want to stay in the industry these days?

A good example of this are the dozens of tractors on Whitehall as farmers in their thousands made their views known about changes to inheritance tax.

Under the government's planned changes, from April 2026, inherited agricultural assets worth more than £1m, which were previously exempt, will be liable to the tax at 20% - half the usual inheritance tax rate.

A farmer who challenged a minister over the inheritance tax changes said he did not think the government was listening to the industry's concerns.

The Bank's contacts with business report that more firms "mentioned the Budget as a deterrent to investment" referencing business asset relief, inheritance tax and National Insurance.