I am no financial or tax expert and not coming down on any side of this particular argument (having paid my fair share of tax) but do we need to split the farmers between those who own their land and those who are tenants.
If a tenant farmer’s landlord dies and his or her family receives a large IHT demand the family may be forced to sell of some or all of their land.
What protections will the tenant have? (agricultural leases can be notoriously complicated)
If the deceased landowners family have their hand forced and decide to sell the tenants farm as a whole, who is going to buy it ? and will the tenant be allowed to stay.
Will some big corporation buy the farm and before we know it the land will be covered in solar panels or wind turbines (probably more profitable than agriculture)
As I said I am not advocating one way or another but the above scenario will need to be tested at some time.