The statistics shown are very misleading. If you live in a rural area, you will know that even modest farms are worth significantly over 2/3 million. 2nd hand machinery prices have risen massively, along with all the other costs that come with a farm. All this tax will do is deter generations from getting into farming. They'll decide its easier to inherit and sell it all to pay the tax instead of continuing the family farm that'll have been in their family for generations. Small and medium farms will disappear and large corporation owned farms will control the sector.
Exactly, and to pay the tax, a great deal of farmers will have to sell off the land they're best at farming to people who are still buying ag land for tax purposes, or investors buying it for offsets or smth else.
If the rich pretend farms sell land prices should force them down. Actual farmers can buy more land and do what they love. And you're only paying IHT when you need to its not every farm will be affected by this as of next year...
@@samuelbown7330 A farming couple leaving £3.5 million pay about £100,000. An ordinary couple leaving £3.5 million pay £1,000,000. Stop moaning Farmer No Cows.
@@stephfoxwell4620 To be honest I'd also be annoyed if I was going to inherit a few million quid from mummy and daddy and then realised I had to start paying tax like everyone else... but that's life
4:58 the idea that farm land price increases is due to wealthy people getting into farming when it happens to coincide with house prices and the drivers there is just dishonest.
Another thing to remember is the value of the agricultural equipment such as tractors. A surprising amount of the value of a farm is in the equipment and buildings on the farm.
Maybe they need to go back to basics. Tax the lot and see how things fall. More then certain you will get people willing to farm them lands without wanting profits. You do realize you can actually live of land.
Yes and if my property goes up in value does that get considered in the new inheritance tax laws? no. They always have the option of selling up some of their land for energy purposes. Why should farmers be subsidized over nurses, teachers etc
@@jackperry2821nurses and teachers are nowhere near as crucial as food. Farmers & food should come first every time. We can survive without nurses and teachers (look at the thousands of years of human history), but can survive only a few days with no food One is much more important than the others - let me tell you it’s not nurses.
What is not so well known is If you pass your home to your children, you have to move out or pay the market rent. Your children will have to pay tax on the additional unearned income. Always best to get professional advise.
@@haztec.inheritance tax is theft. Why would anyone possibly want to get taxed on what you’re own family have earned and been taxed on 5x over already. Some people are so far left they go on with this ridiculous tax tax tax agenda constantly. How anyone can want to depend on foreign important completely because that what will come if this is allowed
I'm fairly left leaning, but even I struggle with the morality of inheritance tax in general. If it's staying within a family, this is normally a double tax on things that have already been taxed before. It feels like a human right that I should be able to leave my worldly possessions to my child without them being stung.
The inheritance tax is on the capital gains between the value your parents purchased the asset for, to the current value of the asset at the time of the transfer to kin. So it is on previously untaxed income, and only a percentage of a percentage of the property value. In most cases it would not be enough to force a sale of the farm to cover, maybe just the use of other cash assets, sale of some equipment or maybe a loan secured by the value of the farm.
@@5353Jumperyeah but inflation effectively means that the capital gains are necessary to maintain the same value, to tax capital gains is still unfair
@@davidioanhedges Food prices have increased everywhere you lying runt. In Europe and the US, war in Ukraine, gas prices etc. You people constantly lie, you constantly leave out important context. I truly despise your kind.
What annoys me about this one is that there should be concrete data. We know what is classified as a farm. We know the general value of said farm. We know if they are owned by a married couple or not. So "who is hit" should not be up for debate. You may even be able to get a freedom of information request to collate this information yourselves?
Unless it has already been updated an released you won't get a "freedom of information request." they keep using the excuse that "it would cost more than £600 to collect and release the date"
Imported foods that are the issue, local farmers just cant compete against foreign imports made from slave camps and use banned illegal farming methods. A import tax/tariff is greatly needed! like what the USA is trying to implement.
You neglect an important argument against the change. Over time the tax will destroy a rural culture and transfer land ownership to giant aggro businesses transforming farmers from owners to workers. It’s a bit like 1066 when the owners were dispossessed and became tenants of powerful outsiders. And it won’t do anything to stop rich people avoiding inheritance tax. They will just buy fields worth a bit under the threshold and shelter a million each.
There are a lot of comments here that seem to imply that farmers are mega rich. Little could be further from the truth. Yes their land is valuable BUT they have to actually work the land to turn a profit. It isnt like money is falling out of the sky for them.
The point is the ones that aren't mega rich won't be affected. But there is a shit load of land owners that are claiming to be farmers to avoid tax. This tackles that issue. Fuck landowners always and forever
The viewship and comments are getting progressively more left wing and TLDR is slowly losing its unbiased videos too, more and more of a left lean in every single video they post. A real shame. The first 1 min of this video was a complete mess, suggesting right wing conspiracy theorists are fuelling the protests is laughable.
We stand with farmers. The government just does not understand the impacts of these policies including the inheritance tax but fertiliser duties too. Those that support the inheritance tax policy evidently do not understand how cash poor farmers are. My fathers farm has made a loss for 4 out of the 5 past years - my mother doesn't even take a salary to balance the books.
Wild suggestion - Maybe they aren't very good farmers? Most other businesses would have stopped after 5 years of consecutive losses. If someone has been given a lifetime to make a business successful and hasn't been successful enough to make enough cash to pay inheritance tax why on earth would we want the children of that person to continue running a failed business? If you have over 3 million in assets just sell them and, like, stop working? Pretty sure I could make 3 million last my whole life and never have to work again. We need businesses that actually make money to have food security. Farms not making money aren't paying tax, aren't supporting the local community and can't grow or invest. From an economic perspective that business is dead weight. And you don't have assets worth 3 million why the fuck you complaining as it literally doesn't effect you?
@@blackroseangel123wild suggestion, many farmers are facing that crisis right now. If everyone decided to”well fk it ill just sell it” who would produce the food for the nation? And also just because youre a good farmer, doesnt mean you will always rake in profit, politics play a part as well. Tell me you dont understand politics and the economy without telling me you dont know shit about it.
@@blackroseangel123obviously you understand nothing about farming. In the world we have this thing called weather? Not much you can do about it. It wildly effects how much if anything grows, costs of production, costs of drying: often the costs of imports mean these costs can't be oftset buy making you the customer pay an heavy price for a bad year.
So the problem isn't the tax it's that they're cash poor. If they weren't cash poor this wouldn't be a problem. So we should make sure they not cash poor then. Right?
@@johkupohkuxd1697 Less farmers??? Or less UK farmers??? Don't think anything the UK does effects much in global food production. However I do feel strongly about food waste. So yes, less UK farmers, please. Maybe then some poor s0d in some poor country can get his actual money's worth.
In order to nurture and encourage multi-generational family farms and businesses, "Socialist" Sweden has no inheritance tax whatsoever. That policy is a crucial part of Sweden's economic strategy to maintain growth and prosperity.
@meferswift I don't particularly care, farming is a business like everything else, it shouldn't have special protections and if you can't afford to run a farm then don't run one.
We lost £8000 last year, we are “technically” worth in excess of £10mill selling off land would be the only way to pay the bill which would make the business unviable. It would then be snapped up by foreign investors who have already massively inflated the price of farm land. The new SFI scheme is insane, I had to spend a week measuring hedges and their quality to potentially get a payout of £2000. It’s absurd and provides no benefit to the environment. Finally it raises almost no money at all, so it’s destroying family businesses that support communities for pennies (relative to the national budget)
Investors and government being in cahoots should really be investigated. Unfortunately, I get the feeling the MSM is also in cahoots, so it won't get reported
I don’t understand why Europe seems so keen on destroying farming. Where do people think food comes from? I’m seriously asking. Coz that seems to be the underlying issue…that a surprisingly large amount of people don’t seem to understand that farming is a matter of survival. It’s a necessity!
because its not profitable, hundreds of billions are spent every year to keep them in business its much cheaper to import food from better growing regions.
Inheritance tax isn’t the problem, farmers need to profit from food production. The only people who benifit from the inheritance tax are investors shopping for loopholes who are hurting farmers by increasing the cost of land
Inheritance tax IS the problem. It's evil. It punishes responsible families for doing the most selfless act they can for the betterment of those who will come after them.
@@BiggusThiccus oh do shut up. So you think people should get money for free? The UK granted you wealth, you should want to pay something back to the society that gave you it. The last few months have shown us who the real freeloaders are with the closing of all these tax loopholes
@@jackperry2821 the people and families who attained their wealth DID pay taxes. Income tax and sales tax on all of it. This tax specifically is punishment for protecting your family. The only freeloaders are the people who feel entitled to the money of others.
No, this is what happens when you have a fairly noncompetitive farming sector that votes against their own interests and throws a shit fit anytime they have to actually help the rest of society
@@suburbanyobbo9412And you check your own spouting nonsense. Stop looking down to fill the coffers and start to look up. All in it together. Let's see that Tories mantra be more than words.
I’d add a clause, if you remain a working farm producing £XXXX of food for 5 years then you don’t pay inheritance tax. Maintains the farm and keeps them going. But, won’t force a sell off of land.
Then they'll cry that "But I'm only earning £6k a year" grossly understating the situation. It's the same with any business, if the business isn't profitable, it's a failed business, if you need to sell assets to keep the business "surviving" then sell some of the assets. The issue is these right wingers / farmers don't like the thought of special needs needing subsidised transport, roads needing to be fixed, the NHS being on it's backside and more people falling under the poverty line due to lack of infrastructure and investment. It's let me keep my money with me, and you go spend yours to help others. I'm glad the government is finally balancing the odds, albeit slightly.
It's important for a government to be able to predict future tax takes to build budgets from. Adding a clause like yours make it hard to predict so they tend to avoid them, despite being an obvious improvement.
While certainly a good idea the problem is people like clarkson and Dyson would both dodge inheritance tax under this as they do actually run working farms.
@@immortallvulture true it’s a trade off. Secure domestic farming vs tax. Someone would need to calculate it out. I’d mainly want to avoid inheritance hand down followed by it being sold off for a giant cash grab.
@ In fairness probably what it would lead to. Farms are the first step in the food chain for rural economies. They go, we just all live in cities from now on, cause that’s where the jobs are.
@@jamesgreene6817 farms wont go simply because theyll lose a bit if they're inherited. They might be sold but other farmers could buy them. And like the video says, the most expensive farms inherited are often just tax avoidance schemes for the rich, not real farmers. So those could eventually even return to farmers and land value would decrease.
@@aceman0000099 As someone that was in a farming family you have NO idea or knowledge about farming and are Completely incorrect are ignorant beyond comprehension. The "Most expensive farms" are nothing compared to companies, not having tax on inheritance is essential to keep farms in families and not companies, if all farming is company owned price for meat, milk and eggs will be extreme. You are disgusting and have no idea how much harm this will cause as it won't be viable for them to pass the farmland down.
@@aceman0000099 Yes inheritance tax will in fact force people to sell the land as opposed to passing it down. Farmers already have right difficult margins and can't afford the tax being forced. It will cause catastrophic damage on an already blood tight industry I left as I couldn't deal with the 15 hour days, those who remain are the very best and most work intensive of men, you have no idea, how extreme it is. The tax will stop the land being passed on and people will leave farming finally putting the killing deathblow on family farms which have already been dying on mass to corporate farms, which charge more and have lower standards it will cause out of control pricing. You are sick.
@VincentVance-j4w 1)assuming they're not foreign investment 2) No they won't, they'll buy it and keep 40% or so around but not farming to jack up food prices on the other 60%
No mention that the farmers say it would be 68% of them affected, the government have inflated the price of land with their poor economics and then want to punish farmers for having such valuable land.
@@ZCouponbecause one of the introductory points was trying to align farmers with the 'far right' Also how many farms will actually be affected was downplayed by the treasury, by around 50% The lie about 3m worth of assets can be pass down if you properly align the assets, real figure is 2m. The framing of "if you think public services are a waste, then you'll not agree" There are more points but it's pretty clear this channel has a bias.
Its simple economics. Rich people buy farms to get out of paying inheritance tax. If farms become taxed the rich will get rid of their farms and it will open up the market whilst lowering land prices to would be farmers. Farmers are struggling because food manufacturers and supermarkets are NOT paying a high enough and fair price for the farmers produce. This is what the government should tackle, as always big business sh*tting on the little guy.
That sounds like a nice idea, but what’s to stop companies buying the low priced land and either hiring tenant farmers or using the land for other means?
but with this law you are also forcing real farmers to sell their farms if they can't pay up the inheritance tax, and who is more likely to buy a £1milion+ farms? hint, it's not other farmers, but more rich people. The real issue with your argument tho, is inheritance tax, so by your logic, getting rid of the inheritance tax would also bring about the same results
Why target 'the top 25% of farmers' and not 'the top 25% most wealthy individuals'? Why target the people providing our food rather than the twats hording money in bank accounts and stocks... There are far better ways to combat the rich buying farmland as an inheritance dodge than punishing actual farmers, and anyone already struggling to afford food. Once again, labour show they have little understanding as to what's going on in the real world. Most of their MP's are in that 25% most wealthy I suspect...
Inheritance tax already applies to those not exempt. And those wealthy individuals are buying farms to get around the inheritance tax, making it more expensive for aspiring farmers to compete
@@gob384 Indeed, buying farm land to avoid inheritance tax is an issue that needs sorting, but targeting farmers generally is a heavy handed mistake. For the record, I think inheritance should be taxed at 100%, for everyone, but that's a different discussion! My personal opinion is income should be taxed less, but wealth should be taxed heavily and progressively, and inheritance at 100%.
The problem is that the thresholds wildly underestimate the value of most farms. As it's not just the land and farmhouse but machinery, barns etc. While they have a cash value that counts towards the threshold none of these assets can be liquidated without crippling the farm. All that needs to be done is to push the threshold up to say 2.5M then the government's statements would have a much greater ring of truth to them.
...but that would mean farmland would still be a useful tax shelter for the rich. Especially when farmland will only attract half the tax rate of other assets when above the threshold.
@jamesthomas4841 true but not to the same degree. How about actually shrinking the tax burden created by government rather than continuing to fleece people? Not likely to happen as that would mean the government having less control over society but a man can dream.
The main issue I hear from farmers around me here is this has been decreed and no consultation took place on the best way to close the loophole and still protect legitimate family farms. It seems a sledgehammer is being employed to crack a nut. And like the government before them, the current government is massaging the numbers to suit their narrative.
@@jamesthomas4841 So tax the rich for each year they don't farm. Punishing everyone, especially those who provide a service for the entire nation is insane.
Okay, so you say richest 25% of farmers but as you gloss over, the NFU, a source with much more direct access to farmers, has a huge issues with those figures. But seperate to that, if you have a farm and machinery and other assets worth let's say £2m 80 acres (smaller than the average) plus equipment and farm buildings, you have to take into account that you have insane running costs at the moment. So you have a large asset base but in a lot of cases you barely break even... You then put large cash poor farms in the position off selling assets or selling the farm as a whole, losing generational knowledge, or having to downsize to a less efficient opportation which may in the future fold due to finances just not making sense.... Got to say this take from you guys is peculiar, why target every farm regardless of the type of owner rather than the individuals who purchase a farm/farm land to shield themselves from taxes is baffling.
The problem is people take the "number of assets qualifying for Agricultural property relief" as the number of farms which is not the same thing. Many larger estates will include some stuff classed as agricultural property for tax reasons (of relatively low value but part of a larger value estate) such as a potential building plot that's currently rented out as pasture which I think no-one would really consider a farm, and this massively inflates the number.
Or just retire at 60 and give the business to your son or whoever, completely tax free? If you have a business worth over a million you probably have a half competent accountant who can sort most of this
Exactly, he's a just a rich, oldish TV presenter who just wants more attention and money. He's only recently gotten into farming and I doubt he cares much about ordinary workers. Anyone who seriously thinks he actually cares about farmers is kidding themself. It'd be like if I suddenly got up one day, decided to apply for a job as a bin man, and decided that now makes me working class and a champion of the workers.
Why would wanting your assets to go to your own children instead of the government when you die be a negative thing. It's not like this benefits the current owner of the land if they are dead later, untaxed inheritance benefits the inheritors, not the current owner.
Clarkson has said he does not mind paying the tax. He agrees people like himself who have made their money doing something else besides farming should be taxed. However people who would literally have to sell their assets, their land, so that they can pay the tax and who have not earned their money from another area of expertise should not be taxed.
Not all farmers are Jeremy Clarkson. Government yet again taxing the wrong things. Heaven forbid they tax genuinely wealthy people who make money doing nothing.
@@kylerowsley For the same reason that you'd want an ambulance to be able to get to you sooner rather than later. You'd want everyone else paying their taxes so that and other services stay in place. And you'd then have to accept that it's your duty just as much as anyone else's to pay into that pot - particularly if you are least at risk of financial hardship. Tax is good for everyone.
On the Subject of Agri Equipment nearly all of the assets used in a working farm will attract either agricultural property relief (“APR”) or business property relief (“BPR”) at 100 per cent. This means that no IHT is payable at all on the transfer of these assets.
Millionaires like Clarkson and James Dyson who've been buying up all the farmland to avoid paying tax are a greater threat to our food security than any inheritance tax changes, last year 56% of farmland purchases were from non-farmers, for the explicit use in tax ivasion. Boo hoo, millionaires having to pay their fair share, let me play my smallest violin.
But it’s clear the policies that destroy family farms , their land will be brought by corporations and the government as basement bottom prices and it sill be converted for land for houses and farming yields will then reduce
Yes but if they still produce the same yield of food I don’t see much of an issue , it’s when after this policy land will be sold by broke farmers at rock bottom prices and corporations and government will buy the land and build housing and data centres etc and yield will reduce nationally
You know it’s a bad decision when the governments only defences are the ways people can get around it, “a married couple will get £3million” - so your saying £1million is too low “you can pass it on 7 years in advance” - your saying you should just dodge the tax
@@ramkedoodle Nationalise the land, yeah because that has always worked out well. How about you leave the land to folk who actually know how to run a farm and we leave you to your job
Notes: 0:30 If you start with the claim “Part of a plot to ethnically cleanse the countryside of farms to build new immigrant towns and solar farms” and not the arguments that got him there, make it much easier to dismiss those that agree as “right wing conspiracy theorists”. In fact, the term “right wing conspiracy theorists” already begins the videos with a biased framing against those that agree. For those that are curious, his reasoning is as follows: In order to pay the inheritance tax, farmers will need to sell their farms (this is a factual starting point) -> The only people willing to buy the farms are foreign billionaires and the government (This is also true. They're the only people with the money & motive to buy them) -> Foreign billionaires would use the farms as solar & wind farms (current subsidies make this far more profitable than farming and cost much less). The government would use these farms to house migrants (This is mainly speculation based on trying to predict the government's motives) It also doesn't help that an ex-Labour advisor said "do to farmers what Margaret Thatcher did to miners". 1:30 You glossed over what agricultural property relief is far too quickly. Without a deep dive into why it exists in the first place, how is anyone meant to know whether scrapping it is a good idea. The arguments for or against scrapping it are not enough; why is this tax exception even a thing in the first place? For those that are curious, most farmers have been on those farms for more than 3 generations (since WW2), and APR was made to encourage family farms by allowing cash poor asset rich farmers to pass on their property tax-free (the costs of assets scale to 0 generationally). Therefore, removing this would get rid of these generational family farms. I would argue that this is akin to a 'cultural genocide' but more importantly, will affect the cost of food. 1:37 £1 mill cap means nothing if I don't know the average cost of assets (for context, it's allot more than £1 mill). 1 tractor alone is worth £¼ mill. There are very few farms worth under £1 mill. 2:10 While true, this is a massive over simplification of their argument. 4:50 There are better ways to target the super rich. This targets your average farmer. 5:20 What if a farmer dies 7 years after the tax in introduced (farmers are an ageing population). £1.5 mill is still not much for a farmer. 6:00 HMRC is an estimate by the government. You can assume they're biased in favour of their own policies. According to the National Farmers Union (NFU), 66% of farms could be affected by the inheritance tax changes. 6:25 Assets != Money. This isn't based on the levels of taxes, but taxing farmers (the people that control our food). We can target billionaires using tax loopholes, without going after farmers.
Inheritance tax is a double tax, double taxing the earner and double taxing the recipient. The earner paid tax on income, on purchases of the assets. The recipient will pay tax if they seek to realise any capital gains and from income tax for selling assets. Inheritance tax exists just to take money away from families and uses the event of a death in the family to obfuscate it's immorality.
The Farmers problem is not IHT. It is food manufacturers and retailers not paying enough. IHT is easily avoided by family farms by giving the farm to your children at least 7 years before the farmers wife dies.
how do you actually determine when is 7 years though. How do you determine you will die???? if i hand over now and 6 years 6 mths passed and i died of an accident. do my kid then have to pay the IHT?
The fact that absolutely everyone with a connection to farming, regardless of whether they'd actually be affected by this or not or their wealth level, is calling it disastrous and everyone calling it good and fair has zero experience or knowledge on the topic other than "EaT tHe RiCh" says it all to me.
How many of them know it won't affect them? It's not the first time people have protested based on things they have been incorrectly told will affect them but actually don't.
I am part of a rural farming community in the West Midlands. I honestly don’t know of many of us that are bothered by this as it literally won’t affect us. The only people this is gonna affect are the top 1% of us who can afford it…and the super rich dodging tax
I have listen to a few tax experts who know more IHT than I do. They have all said that the limit could be as high as £3 million before they have to start paying tax. I think this is a case of misinformation by certain groups. Funny how there were no mass protests against the loss of subsidies, the loss of access to the EU, the trade deals with Australia and NZ. I bet most of those protesting today will not be affected by the tax one bit. Dyson and Clarkson have admitted the reason why they are buying farm land is to avoid IHT.
These are the same farmers who by and large voted for Brexit, which is the biggest issue with their own profitability, correct? Yeah im gonna go out on a limb and say maybe they arent the most informed and dont have an interest in becoming informed.
Perhaps it has but how does very wealthy people buying land as a tax dodge translate into actual farmers being forced to pay inheritance tax on their land help anyone?
It may be, but it does incentivise people to keep it as farmland since that becomes a valuable asset. If this is changed, not only would farms brake down into smaller farms, but I believe a lot of arable land will be put to other purposes since farming isn't profitable and the rich people that own it would want to make money out of something that is no longer tax-free. This would go against the goal of becoming self-reliant and insulated from things like the war in Ukraine in terms of food supply. Personally, I believe changing farmland to be used for another purpose, vis-a-vis building houses, should come with a hefty tax.
I think you failed to mention that farms yield about 1 to 0.5% on the value of the land, meaning you are taxing 20 to 40 times a farmers income. Also who is going to buy? A combine is worth £0.5m. Farmers should be taxed inheritance tax but start at 1% and increase it so farmland can have time to lose value so people that want to buy it can but also farmers can pay for the tax.
You are correct, and all these knee jerk reactions of people running to the defence of the government should be recounted to them when farmers go out of business and farm land is increasingly bought up by corporations.
@@suburbanyobbo9412corporations that manage to run farms much more efficiently and effectively than smaller landowners. The top 9% of farms make up over 60% of the national output. These farms have higher margins and can afford to sell cheap food.
@@aceman0000099 There is no evidence that corporations manage to run farms more efficiently or effectively that small landowners in the UK. I have studied agriculture at higher education.
@@aceman0000099 This is such a spectacularly, horribly, terrifying idea. I don't think you really understand what you just said. Mega corporations owning the majority of farm-land, controlling all food production would basically allow them to do anything they want - Oppose them? Good for you, enjoy starving. And that's just from active malice - using the power they acquired for their ends, which they would definitely do - and not getting into the devastating effect it would have if they just messed up due to incompetence. If one farmer manages their farm badly, their crops fail and people have to get food from elsewhere. If the mega-corp controlling all farms messes up, enjoy famine. This is basically why USSR had so many famines, their central controlled agriculture caused untold starvation and suffering - there the “megacorp” was just the state, but there is no reason why it would be different with a company. The leadership is still a bunch of people who mostly got their jobs due to connections, andwho have no idea about the realities of what they actually manage.
@someoneprobably1802 yes no a single corporation would be terrible, but if even it was 400 or 1500 farms in healthy competition that might be an improvement on the current system. I think the main point is just having them big enough to run as a business that can afford proper employees and accountants etc rather than some kind of family career. I know it sounds cold and dismissive (or naïve even), but it's more of an economical attitude I'm trying to push, not any concrete systems or manifesto I'm dedicated to
Did you miss the part where Clarkson says the government "wants to ethnically cleanse farmers to make space for immigrants and net zero windfarms"? If you don't want to be labled as far-right, maybe don't use far-right talking points?
They used to be the party of the working people, but now they lost that title when they moved to the centre of the platform. It’s a shame they are not following their priorities of their party’s platform. If maybe Jeremy corbyn was still leader and wasn’t kicked out because of rumours of antisemitism, mabey they would be a proper labour party This is just my thoughts on why they lost that title. They used to have proper labour politicians like Tony Benn and Clement Attlee but know they are ran by centrists I don’t know maybe someone have better explanations than me
And the fact the Kier starmer kicked out left wing members of the party further destroys its title as the party of the working people, which could be another reason why the Workers party of Britain was created to be a better Labour party
The plight of the farmers is NOT about the inheritance tax: it is about the crushing rise in cost to produce of food over the last 5 years or so .. the supermarkets give them precious little profit, so farmers are almost on their needs.
As an accountant it’s worth pointing out that the Resident Nil Rate Band is only available on the main residence of an individual passed down to a direct descendant and is tapered off if the individuals entire estate is worth more than 2 million which is likely the case if they own farm land and are worried about these tax changes.
Conspiracy theories because you have no evidence, only feelings. Right wing because that’s the side of the political aisle your ideas are associated with. If you don’t like it, become left wing or get some evidence.
The specific conspiracy is ethnic replacement via 'immigrant towns'. Any evidence for that, or is it just baseless 'questioning'? (which btw, is essentially what a conspiracy is)
Yeah farmers questioning and challenging policy - Fine, normal behaviour in a democracy Assuming it's all to do with shipping immigrants with no evidence - Right wing conspiracy
Lmao if you actually believed in the ideas you subscribe to and didn’t think they were ridiculous, you wouldn’t even think the blank term applied to you
I don't think it's in line with journalistic integrity to be "neutral" regarding people who believe in jewish space lasers and government weather machines. Right-wingers always crying victimhood because they don't understand reality.
It's not fair at all. Farming equipment is expensive Land is expensive They're working to produce OUR food, not for themselves and we're punishing them for it?
6:08 So basically 75% of the farmers are protesting a policy thay doesn't even affect them...great .. Also, why do they dispute the figures? Osnt the value of their land and assets a matter of public record?
The figures are very disputable, I may be bias because I'm a farmer but there's no way these figures are right. These are the labour governments figures by the way and all the significant opposition parties are disputing these figures as are the NFU and general sentiment. Soon you will hear in the news about other organisations and experts disputing these figures because this really does seem like a cock-up. What are the chances that Labour is right and all these other voices are wrong?
@viewer.123 🤷🏾♂️ I think the intent of the law is good but how they implement it will be important...they could say passive land ownership where they are not actively working the land directly (not via contract farmers or some other means) will be taxed differently from active direct farming land maybe? The whole goal is to tax those using the existing structure to hide their wealth from taxation... Also, the land is valued at a price for tax or other purposes - such valuations aren't labour or conservative valuations...they are just valuations...no land owner should be allowing false appraisals for taxation (especially when it's overvalued) there are already ways to contest the valuation... That is what I am point towards...these valuations are public record right? So how can it Labour values vs Conservative values? It isn't a subjective number right?
@@timsyoutube6051 I really don't think that's true. I've seem plenty of interviews from small family owners complaining about having foods rotting in the fields due to a lack of workers.
I would have thought a farm was a LTD company with the amount of business they do. Then you can just have your children on the board, and step down when you retire.
What would you call the people saying this is all part of a plan to force farmers off their land so that 'immigrant towns' can be built in their place?
The whole "ethnic purge" thing. It's a depressingly common right winger thing to scream about how we're going to get replaced by whatever type of foreigner is in the news at the moment. Go back seventy years, and they were screaming their heads off about Jamaicans coming to the UK, but lo and behold the Jamaicans have yet to take over the country despite three-ish generations.
I wonder if this whole conversation is missing the point: UK farms are predominantly held by an aging demographic, with the majority not having concrete plans to pass their land on to a relative when they retire. Meanwhile the largest farming companies in the UK have been doing their best to buy up this land. Labour, as I see it, is effectively trying to deincentivise this practice w/o challenging the tax relief currently going to these big players. I do think that this needs to be the beginning of the package for farmers, as govt intervention in supermarket practices, rejigging tax relief away from meat & dairy and towards plants, land rejuvenation, and equipment is probably going to do more for the average farmers pockets than the status quo. But if farms get caught up by large corps over the next few decades, prepare to see more USA style agricultural issues in the UK, and a loss of tradition which is what most farmers are looking to protect.
“Conspiracy theory” is just a euphemism for “a concern I’m not interested in.” It’s a lazy epithet for journalists to summarily dismiss issues that don’t fit their narrative. And TLDR is enthusiastic about dismissing issues that don’t fit their narrative.
British agriculture had been in decline ever since the late 1800s, when cheap, abundant grain from Russia and North America swamped the British market. It's one of the biggest reasons why Britain has been so reliant on importing food that Germany twice attempted to starve the UK by sending submarines to wreak havoc on British shipping.
Small farms will never be able to compete against large corporations. The only thing we do by continually subsidizing and giving in to farmers' demands is to prolong their inevitable decline. Their stubbornness and attachment to their outdated way of life is just going to hurt everyone else.
If you really think the government, which to you guys is somehow simultaneously competent and dangerous and incompetent and run by idiots, is going to turn the Cotswolds into a slum town for migrants, you are too lost in the sauce to see sense.
The average farmer earns around £26,000 a year, farms (no matter the size or value) aren't just hard cash, they need to be worked consistently and invented into for returns. When a farmer inherits their farm they arent getting a bag of gold, theyre getting a chunk of land they need to spend every day working to make a living, the inheritance tax is going to ruin the lives of thousands of farmers who's families have held onto and nurtured that farm for generations. They'll need to pay nearly 1.5X their yearly salary for over a decade to pay off the tax, its vile and a direct and unnecessary attack on farmers, meanwhile the government can afford £3B a year to Ukraine for "as long as it takes", £14B a year on foreign aid (most of which funds foreigners living in the UK), £11.6B on African climate aid, £8.6B on GB energy and £100M to train drivers who already have an average salary of £60,000, absolutely disgraceful.
I mean they used to have subsidies from the EU, but most farmers voted for Brexit, so really this is a mess of their own making. Inheriting land AND a business at the same time is something that you should be taxed on.
@@AshOwnz9 you realise the average farmer can still own enough land to be included with this? They INHERIT the land, they aren't buying millions worth of land, they still have to work that land and pay farmhands on top of that, many many many farmers are still unnecessarily going to be made bankrupt while the government spends money on more pointless endeavours.
It's also bullshit: A married farmer would be liable for 0 if the value of the farm is less than 3 million just using their personal allowances. This bill hits about 50 farms in the UK, all corporate owned (or shell company owned). The low income farmers you seem to be citing tend to be tenant farm holds and guess what, they don't pay this either.
All that for a 22Bn hole. Why don't they explain people brexit alone is costing us 100Bn/year? Have they not consider rejoining? Are U farmers aware of this?
The argument that farmers just cant afford it is just down right disrespectful in my opinion. The average UK Citizen has struggled with tax for years and made it work, non farmers who dealt with inheritance tax if they couldn't afford it would have to sell part of the estate, Weather you like it or not most farmers are millionaires. Their assets exceed 1 million, They have had god knows how many subsidies. We regular people struggle with normal tax, why is it fair for them to get subsidy after subsidy and also be except from tax
But they farm. The assets they hold can be liquidated- but that's only likely if they sell it to developers. The problem is what was started in '84 with land prices. Most of the value is farm equipment, land and their homes. Their homes and jobs are tied together. So, this will bankrupt many farmers - who produce food. It just seems very odd to me.
Your ancestors were all farmers 100 years ago. Your a city dweller becouse your Grand Father said he would do so much better than his brother farmer. You doing better than your couson farmer? Just becouse your doing worse than your 5th couson who stayed looking after the cows. Them death taxing us all is Good? Tax the serfs LOL. They are taxing you when you die and saying its Good. Bow to our Glourious Leaders 😀
Because farming is essential to the economic security of the nation, a lesson we learnt during the Second World War, when the whole nation had to be regeared to produce enough food to feed the people of these islands without imports. Farming is subsidised for a reason. Once the infrastructure that produces our food is gone, it will be near impossible to rebuild. Build housing estates on prime agricultural land, sold to pay an inheritance tax bill. Do you think that land will ever return to cultivation? Never.
@ and why do you think that land is so expensive? The land was hiked to an all time high when the Inheritance tax was removed as millionaires were rushing to buy land to avoid paying the tax
Multimillionaires don't like the idea of paying inheritance tax, aren't we all shocked? I'm not sure how so many British farmers manage be to so inept that they apparently earn nothing, whilst tenant farmers who don't even own their land or house and have to pay rent on these somehow manage to make a profit healthy enough to pay rent and to support their own families. I guess the landholding farmers must be giving the crops away for free since they're such saints :)
The upper tax rate is 45% compared to 90% that it used to be before the Thatcher Government. If they want more money, close tax loopholes holes for the super rich, and increase the tax, not target the little guy.
If you're passing down assets worth over a million pounds, you are most definitely not the little guy. Half the country leaves no inheritance at all, and the vast majority of the rest are below the threshold for inheritance tax. Farmers will still get far more exemptions than any other groups (like 10 years to pay the tax bill).
@@obiwanjabroniXThis is relevant to the EU exactly how? I am pro-EU market from Finland, but even I realise that the EU would only hurt british farming, and currently the oligarchs here are planning to bring in Ukrainian grain which would kill any farming in Britain.
Surely if you make an exemption for inheritance tax for land used for agricultural purposes itll incentivise more land to be used for it? Include green energy farms in it and we're laughing right?
An interesting comment. Agricultural land can be used for a variety of purposes, not just food production and some of those other uses generate a lot more income.
@@MrHighRawfarmers aren't rich, their take home salary each year is about £10,000 less than the average UK salary, they are by definition poor. They have land which they farm, the land and agricultural buildings are worth a lot, but that's the requirement for the job, that not liquid money they can handover to the government for inheritance tax. They would have to sell the farm to pay the inheritance tax, at which point you can say goodbye to small local farmers and hello to large corporations who won't have inheritance tax issues.
I filmed a short documentary in uni about a local pig farmer and he voted for Brexit because he thought there were too much paperwork and restrictions on his farm. Irony is that this has massively increased since and would have likely reduced how much he could sell overseas
So just to be clear. Because they made a political decision you disagree with 8 years ago. You believe it’s just for them to lose their family heritage, property, and way of life?
Because of Brexit their protest has a chance, it would be meaningless whilst still in the EU. You may not care about farming, but maybe one day you will need to protest about something you do care about. You will be thankful it’s only against the U.K. government on that day.
The fact that farmers and working class people can be right wing economically is a mystery to me. It makes sense for rich people because it benefits them, but it's like the working class have had the wool pulled over their eyes
@@charliecrome207 socialists and communists want get rid of private property. You took away all the farms and made them collectives controlled by the party. Ban self employment. Bring self employed or in a small ferm are the places the working class can make money. The opposite of what socialist want There just Robber Barons with a smile saying we will look after you. But want all you can make.
The damage that this bill has caused has already done damage, EVEN if it it repealed - some farmers would have said "I've had enough" so damage was already done - and for that, the person in charge should go to jail.
I feel that the concept of a death tax is absurd. Those assets have already been taxed - the government needs to be incentivized to be more efficient with our funds.
It's not a death tax, youre not taxed, you're dead. People that benefit from a lump sum of wealth that they haven't earned pay the tax. Society is expensive, and needs taxes to run. I don't think people that work hard for their income should pay taxes on that, whilst people receive a lump sum of wealth through generic lottery, and then generate income from that wealth and pay less tax on that.
If the reason is to target rich people buying the farm to pass down as inheritance to avoid inheritance tax. Why not tax the buyer of farmland Y% at point of sale when they are purchasing over $X amount. If majority of farming peeps are just passing down their farmland as inheritance they would not be affected.
Additionally, it doesn't achieve the same thing - you might pay some tax when you purchase it initially, but if that means you never have to pay inheritance tax on it again, then after some number of inheritances (dependent on the ratio of your proposed stamp duty increase compared to normal inheritance tax rates) it will still be a net tax reduction, meaning it would remain an efficient way of avoiding tax
Just for clarification on taxes on property. You pay stamp duty to buy property, then you pay capital gains tax if you sell the property for more than you bought it and you pay inheritance tax if you transfer the property to your children or grandchildren. All of these have thresholds but the thresholds have hardly changed to keep up with the increasing value of property.
You buy a farm in 2010 for £2 million, paying stamp duty, ypu die 35 years later and pass on the farm now worth £18 million, your son then sells it a few years later and gets 20 million. The problem ive illustrated is inflation which the initial purchase tax doesn't quite follow.
Clarkson told the Times in 2021 that avoiding inheritance tax was “the critical thing” in his decision to buy land - but said today that he had bought the land "to shoot".Tax avoider,plain and simple.
Good. Taxation is Theft and Inheritance-Tax might be the most morally illegitmate one of all. It has no legitimate argument and is strictly only a means for the State to pocket more money for bureaucrats as well as satisfy undisciplined spitefully-envious useless losers. Everyone should avoid paying taxes and everyone tries to - just some are more honest than others.
If the Government any of the UK Governments was serious it wouldn't of spent £4.3 billion associated with asylum seekers in the UK in 2023 this is going up every year, spending money on people who have not paid anything into the system is costing people like the farmers and the public at large. Imagine what could have been done with those billions for the British people.
What a shame that once the land is bought by an agricultural company it's wasted because the company doesn't know or want to produce food, and only little wholesome farmer knows how and wants to do it out of a goodness of their heart.
@Bravo-oo9vd don't believe all the propaganda you've been fed. The vast majority of farm land is used for farming and making most the food we eat. But then maybe you're also from London so don't appreciate British grown food and prefer having avocados shipped over from abroad and try to believe you are helping to save the planet whilst not caring if the country is taken over by foreign corporations.
@VincentVance-j4w no thats not what will happen. Just like with our oil and gas, foreign investors will buy the land and make it profitable by making us pay alot more for it and then sending the profits abroad and to its share holders. Don't be fooled, thats what Labour want. They've already had meetings with people like Bill Gates. Feel free to Google his land ownership and its interesting that he had meetings with key Labour Party MPs just before the budget announcement.
Could just ya' know... offer up dealing with Brexit woes that cost farmers waaaay more? What? Farmers and rural areas voted in majority for Brexit? Huh.
Tbf farms all over the continent are not in any better shape , protests in France Netherlands Germany etc so it’s not like the grass is greener on the other side
Like children we need to take extra care of them even if they do make mistakes. Its a sad truth but even if they voted to basically f*** themselves, the UK government still needs to defend the farmers.
That’s a fallacious argument. Brexit has hit farmers badly for two simple reasons. The main reason is excess red tape means it’s much harder to get their goods exported to the uk’s largest food export destination the EU. This means it’s more expensive to export to the EU and not as much can be exported as demand reduced for uk produce in the EU. Other reason is that since less skilled hardworking farm workers can come to the uk and work on farms there has been a big labour shortage in farming and of course this causes all kinds of problems including reduced profits for farmers. Uk people haven’t really filled in the lost farming jobs because they’re hard work, remote and still relatively low paid even if an increase in demand has lead to pay growth here. There are many other reasons why Brexit has been bad for farmers and consumers. We’ve now got more expensive and lower quality food riddled with more chemicals. Great 👍. The reasons for farmers protesting across some European countries are varied and sometimes strange. Unfortunately there’s not much correlation between what really negatively affects farmers and what they protest against. If there was there would have been much larger protests by farmers against Brexit than against a policy that leads to higher inheritance tax for about 500 of the wealthiest farms per year. Unfortunately a lot of farmers seem to be swept up by misinformation on social media and culture wars. There are farmers across Europe protesting against things like trade deals with other countries that will undercut farmers which is valid and similar to Brexit in a way but far less damaging and on a smaller scale.
Personally I think all farmers should just go see a psychic and figure out when they are dying so they can hand over their farms seven years in advance. Problem solved. Or maybe this is why Labour wants to legalise assisted dying?
It seems like such a low number if you're trying to tax the richer farmers or property holders. Why not start at £3-4 million which is only going to affect the real top rich land owners who are trying to avoid inheritance tax if you're trying to make it fair?
As I understand it, this tax is indeed for farms over £3m. A non farming couple leaving their main residence to children has a combined tax threshold of £1m already; this allowance is extra, which apparently means a farming couple will end up with a tax threshold of £3m total before 20% tax is paid.
my dad used to work in agriculture. And ended up knowing a lot of farmers. I think pretty much all of them were tenant farmers who farmed land they rented off hugely wealthy farming families who'd brought up the land that used to belong to smaller farmers in hard times, and are now renting it back to them to actually work. Or had little family owned farms in places where land was soo cheap and unproductive, like up in the Welsh mountains, that no rich person had ever bothered trying to buy it out. Neither group would ever need to pay this inheritance tax. Most farmers don't have millions in assets to pass on. Most people who actually farm our land don't even own it. In fact i just looked up the numbers. 70% of the farmable land in the UK is worked by tenant farmers. If this forces those rich land hoarders to sell off some of their land to pay inheritance, maybe the people who actually work the land and produce our food will be able to by it back from them
I think inheritance tax should be non-existent altogether I don't care how rich or poor you are that money should not go to the government that money should go to your family and that's end of!
@@jjefferyworboys8138 You pay 20% income tax then 20% vat when we buy things. So 40% of my wages goes on tax. If I give you something over 3000 tax man gets interested. I own anything and it goes up in value tax man is interested. Government gets 40% of my wages and still not Enough ???????
Yeah but no, they don't, that food is piled up in heaps to rot while food is imported. Maybe you should give respect to actual farmers abroad and stop with all the wars.
@@stephfoxwell4620 Sure they are mate, when the inheritance tax means the destruction of their family farms to bankruptcy. Then Britain will have to import even more of its food and the money goes overseas. Rural areas decay as a result.
The dead person is not getting taxed. Their heir, who has never, ever paid tax on this sudden, huge, unearned income, is the one paying inheritance tax.
If profit from farming is so low, you would expect farmers to be happy to sell their land to the crown, and then to be paid a wage to farm the now-public land.
Laws of self-preservation should come into play here. We're an island. We need to be using as little land as possible with buildings. More buildings = Less land. Less Land = Less food. Population is a compounding statistic. The more people there are, the faster the population grows. I'm talking no doubt 100's of years away, but sooner or later we will run out of usable space for an every growing population. Close the borders to people whom do not belong here, look after ourselves and self-preservate as much as you can, as soon as you can.
@@SDrtheone If you want to know where I disagree with your "facts" about "overpopulation" and "running out of land", you're welcome to read my previous comment however many times you need.
There should be an exemption for farm owner operators. I agree that those simply using the land as a vehicle to pass on wealth tax free should be taxed, but I do not think actual farming families should be taxed on it.
This is one of the most insane things I’ve seen Britain do. Where will you get your food? France? Spain? They totally won’t over leverage you. America? When they’re about to kick off a triad war?
The statistics shown are very misleading. If you live in a rural area, you will know that even modest farms are worth significantly over 2/3 million. 2nd hand machinery prices have risen massively, along with all the other costs that come with a farm. All this tax will do is deter generations from getting into farming. They'll decide its easier to inherit and sell it all to pay the tax instead of continuing the family farm that'll have been in their family for generations. Small and medium farms will disappear and large corporation owned farms will control the sector.
Exactly, and to pay the tax, a great deal of farmers will have to sell off the land they're best at farming to people who are still buying ag land for tax purposes, or investors buying it for offsets or smth else.
If the rich pretend farms sell land prices should force them down. Actual farmers can buy more land and do what they love. And you're only paying IHT when you need to its not every farm will be affected by this as of next year...
@@samuelbown7330 A farming couple leaving £3.5 million pay about £100,000.
An ordinary couple leaving £3.5 million pay £1,000,000.
Stop moaning Farmer No Cows.
@@stephfoxwell4620 To be honest I'd also be annoyed if I was going to inherit a few million quid from mummy and daddy and then realised I had to start paying tax like everyone else... but that's life
4:58 the idea that farm land price increases is due to wealthy people getting into farming when it happens to coincide with house prices and the drivers there is just dishonest.
Another thing to remember is the value of the agricultural equipment such as tractors. A surprising amount of the value of a farm is in the equipment and buildings on the farm.
Maybe they need to go back to basics. Tax the lot and see how things fall. More then certain you will get people willing to farm them lands without wanting profits. You do realize you can actually live of land.
Yes and if my property goes up in value does that get considered in the new inheritance tax laws? no. They always have the option of selling up some of their land for energy purposes.
Why should farmers be subsidized over nurses, teachers etc
Yeah most trackers allowed are over 100k easily
@@jackperry2821 bc you need to fucking eat before all else
@@jackperry2821nurses and teachers are nowhere near as crucial as food. Farmers & food should come first every time.
We can survive without nurses and teachers (look at the thousands of years of human history), but can survive only a few days with no food
One is much more important than the others - let me tell you it’s not nurses.
Who is going to buy up the farmland when they are forced to sell it? Corporations.
Corporation Man Kier Starmer hits again
Amazon farms
All of the above and including Blackrock and Gill Bates
Thought police deleted my comments
City workers wanting a tax break
"you can avoid taxes if you pass your stuff at least 7 years before your death" sure, let me get the crystal ball to know when I'll be dead xD
What is not so well known is If you pass your home to your children, you have to move out or pay the market rent.
Your children will have to pay tax on the additional unearned income. Always best to get professional advise.
That's the entire point. It's to stop people avoiding IHT by gifting everything right before they die,
@@haztec.inheritance tax is theft. Why would anyone possibly want to get taxed on what you’re own family have earned and been taxed on 5x over already. Some people are so far left they go on with this ridiculous tax tax tax agenda constantly. How anyone can want to depend on foreign important completely because that what will come if this is allowed
You wouldn't have to pass the whole thing in one go.
This is dumb but it also show that it won’t have any distortion on the market since nobody can foresee when the tax event(death) will happen.
I'm fairly left leaning, but even I struggle with the morality of inheritance tax in general. If it's staying within a family, this is normally a double tax on things that have already been taxed before. It feels like a human right that I should be able to leave my worldly possessions to my child without them being stung.
The inheritance tax is on the capital gains between the value your parents purchased the asset for, to the current value of the asset at the time of the transfer to kin.
So it is on previously untaxed income, and only a percentage of a percentage of the property value.
In most cases it would not be enough to force a sale of the farm to cover, maybe just the use of other cash assets, sale of some equipment or maybe a loan secured by the value of the farm.
@5353Jumper the reasons the farmers give apply to anyone inheriting anything
@@5353Jumperyeah but inflation effectively means that the capital gains are necessary to maintain the same value, to tax capital gains is still unfair
Farmers are millionaires who live off welfare. They should at least pay the same taxes as everyone else.
@@stuartcollins82 Land values have trebled in 15 years.
That is not hard work it is a windfall.
TLDR video 6 years from now: This is why food prices in the UK are so high now.
Brexit increased food prices, this will have little or no effect, as most farms will be unaffected
@@davidioanhedges Food prices have increased everywhere you lying runt. In Europe and the US, war in Ukraine, gas prices etc. You people constantly lie, you constantly leave out important context. I truly despise your kind.
@@davidioanhedgestax is a cost. A massive cost. More costs means they have to raise their prices.
@@davidioanhedges 68% of farms effected is most of them.
most food can be imported cheaper anyways, it's not going to be such a big deal. There's definitely an argument for security and autonomy though.
What annoys me about this one is that there should be concrete data.
We know what is classified as a farm.
We know the general value of said farm.
We know if they are owned by a married couple or not.
So "who is hit" should not be up for debate.
You may even be able to get a freedom of information request to collate this information yourselves?
Unless it has already been updated an released you won't get a "freedom of information request." they keep using the excuse that "it would cost more than £600 to collect and release the date"
@@UnwittingSweater Last year it would have hit 120 farm legacies out of about 2,500.
@@stephfoxwell4620If you watch Harry’s Farm newest video he talks about there being a miscalculation to do with business tax.
@mrmagoo-i2l is that a miscalculation on the government's data. You got a link?
Imported foods that are the issue, local farmers just cant compete against foreign imports made from slave camps and use banned illegal farming methods. A import tax/tariff is greatly needed! like what the USA is trying to implement.
You neglect an important argument against the change.
Over time the tax will destroy a rural culture and transfer land ownership to giant aggro businesses transforming farmers from owners to workers. It’s a bit like 1066 when the owners were dispossessed and became tenants of powerful outsiders.
And it won’t do anything to stop rich people avoiding inheritance tax. They will just buy fields worth a bit under the threshold and shelter a million each.
How do the
@@danburrill8716 Oh I dont know,
Because
@@aQuestionator They absolutely do. The vast majority of them are the descendants of William of Normandy's barons.
already happening, dyson invested in farmland to dodge taxes, so did clarkson
This is 100% correct!
There are a lot of comments here that seem to imply that farmers are mega rich. Little could be further from the truth. Yes their land is valuable BUT they have to actually work the land to turn a profit. It isnt like money is falling out of the sky for them.
The point is the ones that aren't mega rich won't be affected. But there is a shit load of land owners that are claiming to be farmers to avoid tax. This tackles that issue. Fuck landowners always and forever
The viewship and comments are getting progressively more left wing and TLDR is slowly losing its unbiased videos too, more and more of a left lean in every single video they post. A real shame. The first 1 min of this video was a complete mess, suggesting right wing conspiracy theorists are fuelling the protests is laughable.
@@sambland3903 Last year about 20% of farms were over £2.5 million.
Socialists have always seen farmers as rich land owners of yore.
google how much farmland dyson now owns
We stand with farmers. The government just does not understand the impacts of these policies including the inheritance tax but fertiliser duties too. Those that support the inheritance tax policy evidently do not understand how cash poor farmers are. My fathers farm has made a loss for 4 out of the 5 past years - my mother doesn't even take a salary to balance the books.
Explain the policy please
Wild suggestion - Maybe they aren't very good farmers? Most other businesses would have stopped after 5 years of consecutive losses.
If someone has been given a lifetime to make a business successful and hasn't been successful enough to make enough cash to pay inheritance tax why on earth would we want the children of that person to continue running a failed business?
If you have over 3 million in assets just sell them and, like, stop working? Pretty sure I could make 3 million last my whole life and never have to work again.
We need businesses that actually make money to have food security. Farms not making money aren't paying tax, aren't supporting the local community and can't grow or invest. From an economic perspective that business is dead weight.
And you don't have assets worth 3 million why the fuck you complaining as it literally doesn't effect you?
@@blackroseangel123wild suggestion, many farmers are facing that crisis right now. If everyone decided to”well fk it ill just sell it” who would produce the food for the nation? And also just because youre a good farmer, doesnt mean you will always rake in profit, politics play a part as well. Tell me you dont understand politics and the economy without telling me you dont know shit about it.
@@Techiejt But the land trebled in value in 15 years.
@@blackroseangel123obviously you understand nothing about farming. In the world we have this thing called weather? Not much you can do about it. It wildly effects how much if anything grows, costs of production, costs of drying: often the costs of imports mean these costs can't be oftset buy making you the customer pay an heavy price for a bad year.
Wo, even 3 million is nothing on a frame. This is 3 lager fields and 3 traktors with one shed
Tractor is already taxable according to Agricultural Relief for Inheritance Tax. The problem is with the land and the potential loophole
FARMERS ARE OFTEN ASSET RICH BUT CASH POOR! THEY'LL BE FORCED TO SELL THEIR FARMS!
So?
@@hurataimad-s3q Want less farmers? Production of food is good if you didn't know.
So the problem isn't the tax it's that they're cash poor. If they weren't cash poor this wouldn't be a problem. So we should make sure they not cash poor then. Right?
@@johkupohkuxd1697 Less farmers??? Or less UK farmers??? Don't think anything the UK does effects much in global food production.
However I do feel strongly about food waste. So yes, less UK farmers, please. Maybe then some poor s0d in some poor country can get his actual money's worth.
Rather like many ordinary families. All the money is the property with very little in the Bank.
In order to nurture and encourage multi-generational family farms and businesses, "Socialist" Sweden has no inheritance tax whatsoever. That policy is a crucial part of Sweden's economic strategy to maintain growth and prosperity.
Norway too don't forget.
agriculture is 1.6% of sweden's economy, it isn't vital.
Yea, and Socialist Paradise Sweden has a shocking amount of wealth inequality.
@@jakub48635 that's a very capitalistic way of looking at it.
@meferswift I don't particularly care, farming is a business like everything else, it shouldn't have special protections and if you can't afford to run a farm then don't run one.
We lost £8000 last year, we are “technically” worth in excess of £10mill selling off land would be the only way to pay the bill which would make the business unviable. It would then be snapped up by foreign investors who have already massively inflated the price of farm land.
The new SFI scheme is insane, I had to spend a week measuring hedges and their quality to potentially get a payout of £2000. It’s absurd and provides no benefit to the environment.
Finally it raises almost no money at all, so it’s destroying family businesses that support communities for pennies (relative to the national budget)
@@robwebster3517 must be nice 👍🏼
Investors and government being in cahoots should really be investigated. Unfortunately, I get the feeling the MSM is also in cahoots, so it won't get reported
Foreign investors would also have to pay this inheritance tax.
@lcoyle1998 And where will the food come from? And before you say imports, what happens when trade and travel are shut down, like in a pandemic
@lcoyle1998 you are a sick sick person.
I don’t understand why Europe seems so keen on destroying farming. Where do people think food comes from? I’m seriously asking. Coz that seems to be the underlying issue…that a surprisingly large amount of people don’t seem to understand that farming is a matter of survival. It’s a necessity!
because its not profitable, hundreds of billions are spent every year to keep them in business its much cheaper to import food from better growing regions.
Just a quick reminder that the majority of the EU's budget is spent on farming subsidies.
Inheritance tax isn’t the problem, farmers need to profit from food production. The only people who benifit from the inheritance tax are investors shopping for loopholes who are hurting farmers by increasing the cost of land
You think more expensive food is good for society?
Not the only ones. Actual farmers abroad? Not these fake lot.
Inheritance tax IS the problem. It's evil. It punishes responsible families for doing the most selfless act they can for the betterment of those who will come after them.
@@BiggusThiccus oh do shut up. So you think people should get money for free?
The UK granted you wealth, you should want to pay something back to the society that gave you it. The last few months have shown us who the real freeloaders are with the closing of all these tax loopholes
@@jackperry2821 the people and families who attained their wealth DID pay taxes. Income tax and sales tax on all of it. This tax specifically is punishment for protecting your family. The only freeloaders are the people who feel entitled to the money of others.
One million pounds is pretty tiny as business assets go. A couple of modern tractors can easily cost more than that alone.
"Your majesty, a second tractor has hit big ben"
This is what happens when you have a cosmopolitan political class who think that our food comes from the supermarket
No, this is what happens when you have a fairly noncompetitive farming sector that votes against their own interests and throws a shit fit anytime they have to actually help the rest of society
@@ronan5228UK farming subsidies matched EU farming subsidies. Brexit has driven more wage growth than inflation. Stop spouting off utter nonsense.
@@suburbanyobbo9412And you check your own spouting nonsense.
Stop looking down to fill the coffers and start to look up. All in it together. Let's see that Tories mantra be more than words.
@@lindacurrie8817 Who is “Looking down to fill the coffers”?
As someone who knows the farming industry, unlike kier and Rachel, this will affect well over 2/3 of farms
I’d add a clause, if you remain a working farm producing £XXXX of food for 5 years then you don’t pay inheritance tax. Maintains the farm and keeps them going. But, won’t force a sell off of land.
Then they'll cry that "But I'm only earning £6k a year" grossly understating the situation. It's the same with any business, if the business isn't profitable, it's a failed business, if you need to sell assets to keep the business "surviving" then sell some of the assets. The issue is these right wingers / farmers don't like the thought of special needs needing subsidised transport, roads needing to be fixed, the NHS being on it's backside and more people falling under the poverty line due to lack of infrastructure and investment. It's let me keep my money with me, and you go spend yours to help others. I'm glad the government is finally balancing the odds, albeit slightly.
It's important for a government to be able to predict future tax takes to build budgets from. Adding a clause like yours make it hard to predict so they tend to avoid them, despite being an obvious improvement.
While certainly a good idea the problem is people like clarkson and Dyson would both dodge inheritance tax under this as they do actually run working farms.
@@immortallvulture true it’s a trade off. Secure domestic farming vs tax. Someone would need to calculate it out.
I’d mainly want to avoid inheritance hand down followed by it being sold off for a giant cash grab.
@@immortallvulture There are plenty of ways for rich people to avoid paying taxes, becoming productive farmers is one of the most beneficial.
Meanwhile, in 10 Downing Street;
“Claaaarksssoonnnn!!!!
What was he on about 0:38
@ In fairness probably what it would lead to. Farms are the first step in the food chain for rural economies. They go, we just all live in cities from now on, cause that’s where the jobs are.
@@jamesgreene6817 farms wont go simply because theyll lose a bit if they're inherited. They might be sold but other farmers could buy them. And like the video says, the most expensive farms inherited are often just tax avoidance schemes for the rich, not real farmers. So those could eventually even return to farmers and land value would decrease.
@@aceman0000099 As someone that was in a farming family you have NO idea or knowledge about farming and are Completely incorrect are ignorant beyond comprehension. The "Most expensive farms" are nothing compared to companies, not having tax on inheritance is essential to keep farms in families and not companies, if all farming is company owned price for meat, milk and eggs will be extreme. You are disgusting and have no idea how much harm this will cause as it won't be viable for them to pass the farmland down.
@@aceman0000099 Yes inheritance tax will in fact force people to sell the land as opposed to passing it down. Farmers already have right difficult margins and can't afford the tax being forced. It will cause catastrophic damage on an already blood tight industry I left as I couldn't deal with the 15 hour days, those who remain are the very best and most work intensive of men, you have no idea, how extreme it is. The tax will stop the land being passed on and people will leave farming finally putting the killing deathblow on family farms which have already been dying on mass to corporate farms, which charge more and have lower standards it will cause out of control pricing. You are sick.
0:43 the same bloke that said on TV he brought a farm to avoid paying inheritance tax 😂
Attacking your own domestic food supply is an ingenious move. Remember, the famine isn't a bug, it's a feature.
And why would they cause a famine?
@@ad_astra5divide and conquer
@ad_astra5 Asset Rich Cash Poor
@VincentVance-j4w 1)assuming they're not foreign investment 2) No they won't, they'll buy it and keep 40% or so around but not farming to jack up food prices on the other 60%
@@God_is_a_High_School_Girl
Those inheriting land in the years up to 1984 had to pay tax. There was no famine.🙄
I'm not even a farmer but this is the first time I've questioned the bias of this channel...
No mention that the farmers say it would be 68% of them affected, the government have inflated the price of land with their poor economics and then want to punish farmers for having such valuable land.
Agreed. Funny how everyone else attending the protests are right wing conspiracy theorist haha
Because they presented both sides of the argument?
@@ZCouponThey did but it's clear which was presented as less legitimate, despite some very real concerns.
@@ZCouponbecause one of the introductory points was trying to align farmers with the 'far right'
Also how many farms will actually be affected was downplayed by the treasury, by around 50%
The lie about 3m worth of assets can be pass down if you properly align the assets, real figure is 2m.
The framing of "if you think public services are a waste, then you'll not agree"
There are more points but it's pretty clear this channel has a bias.
Its simple economics. Rich people buy farms to get out of paying inheritance tax. If farms become taxed the rich will get rid of their farms and it will open up the market whilst lowering land prices to would be farmers. Farmers are struggling because food manufacturers and supermarkets are NOT paying a high enough and fair price for the farmers produce. This is what the government should tackle, as always big business sh*tting on the little guy.
That sounds like a nice idea, but what’s to stop companies buying the low priced land and either hiring tenant farmers or using the land for other means?
@@conormurphy4328exactly, they’ll spout any old bollocks.
We don’t want to pay more for food in the shops genius
but with this law you are also forcing real farmers to sell their farms if they can't pay up the inheritance tax, and who is more likely to buy a £1milion+ farms? hint, it's not other farmers, but more rich people. The real issue with your argument tho, is inheritance tax, so by your logic, getting rid of the inheritance tax would also bring about the same results
Also im pretty sure with the companies buying up farm land to use for housing these days, Kent will just become a massive housing project.
Why target 'the top 25% of farmers' and not 'the top 25% most wealthy individuals'? Why target the people providing our food rather than the twats hording money in bank accounts and stocks...
There are far better ways to combat the rich buying farmland as an inheritance dodge than punishing actual farmers, and anyone already struggling to afford food. Once again, labour show they have little understanding as to what's going on in the real world. Most of their MP's are in that 25% most wealthy I suspect...
Inheritance tax already applies to those not exempt. And those wealthy individuals are buying farms to get around the inheritance tax, making it more expensive for aspiring farmers to compete
@@gob384 Indeed, buying farm land to avoid inheritance tax is an issue that needs sorting, but targeting farmers generally is a heavy handed mistake.
For the record, I think inheritance should be taxed at 100%, for everyone, but that's a different discussion!
My personal opinion is income should be taxed less, but wealth should be taxed heavily and progressively, and inheritance at 100%.
The problem is that the thresholds wildly underestimate the value of most farms. As it's not just the land and farmhouse but machinery, barns etc. While they have a cash value that counts towards the threshold none of these assets can be liquidated without crippling the farm. All that needs to be done is to push the threshold up to say 2.5M then the government's statements would have a much greater ring of truth to them.
...but that would mean farmland would still be a useful tax shelter for the rich.
Especially when farmland will only attract half the tax rate of other assets when above the threshold.
@jamesthomas4841 true but not to the same degree. How about actually shrinking the tax burden created by government rather than continuing to fleece people? Not likely to happen as that would mean the government having less control over society but a man can dream.
The main issue I hear from farmers around me here is this has been decreed and no consultation took place on the best way to close the loophole and still protect legitimate family farms. It seems a sledgehammer is being employed to crack a nut.
And like the government before them, the current government is massaging the numbers to suit their narrative.
@@jamesthomas4841 So tax the rich for each year they don't farm. Punishing everyone, especially those who provide a service for the entire nation is insane.
@hurrdurrmurrgurr
" punishing everyone".... not really.
I don't think people who have estates worth above 3 million pounds is
"everyone ".
Clarkson only bought his farm to avoid inheritance tax. He said so himself lol
BASED
So what?
Inheritance tax is vile. Taxed all your life and then taxed for handing down what you've spent your life working for.
So thats one farmer out of how many?
@@Dee78584 You're not being taxed. The freebie your child is getting is.
Okay, so you say richest 25% of farmers but as you gloss over, the NFU, a source with much more direct access to farmers, has a huge issues with those figures.
But seperate to that, if you have a farm and machinery and other assets worth let's say £2m 80 acres (smaller than the average) plus equipment and farm buildings, you have to take into account that you have insane running costs at the moment. So you have a large asset base but in a lot of cases you barely break even...
You then put large cash poor farms in the position off selling assets or selling the farm as a whole, losing generational knowledge, or having to downsize to a less efficient opportation which may in the future fold due to finances just not making sense....
Got to say this take from you guys is peculiar, why target every farm regardless of the type of owner rather than the individuals who purchase a farm/farm land to shield themselves from taxes is baffling.
The problem is people take the "number of assets qualifying for Agricultural property relief" as the number of farms which is not the same thing.
Many larger estates will include some stuff classed as agricultural property for tax reasons (of relatively low value but part of a larger value estate) such as a potential building plot that's currently rented out as pasture which I think no-one would really consider a farm, and this massively inflates the number.
@@willdbeast1523 isn't that tax avoidance stuff exactly what this tax is supposed to tackle?
In 2021-22, Treasury figures show just 117 inherited farms were worth over £2.5m, meaning the vast majority would have avoided paying any death duties
@ Farm equipment and machinery was never part of APR so has never been exempt from IHT.
Or just retire at 60 and give the business to your son or whoever, completely tax free?
If you have a business worth over a million you probably have a half competent accountant who can sort most of this
Anyone who thinks clarkson didn’t buy a farm to take advantage of inheritance tax loopholes doesn’t know the man
Exactly, he's a just a rich, oldish TV presenter who just wants more attention and money. He's only recently gotten into farming and I doubt he cares much about ordinary workers. Anyone who seriously thinks he actually cares about farmers is kidding themself. It'd be like if I suddenly got up one day, decided to apply for a job as a bin man, and decided that now makes me working class and a champion of the workers.
Why would wanting your assets to go to your own children instead of the government when you die be a negative thing. It's not like this benefits the current owner of the land if they are dead later, untaxed inheritance benefits the inheritors, not the current owner.
Clarkson has said he does not mind paying the tax. He agrees people like himself who have made their money doing something else besides farming should be taxed.
However people who would literally have to sell their assets, their land, so that they can pay the tax and who have not earned their money from another area of expertise should not be taxed.
Not all farmers are Jeremy Clarkson. Government yet again taxing the wrong things.
Heaven forbid they tax genuinely wealthy people who make money doing nothing.
@@kylerowsley For the same reason that you'd want an ambulance to be able to get to you sooner rather than later. You'd want everyone else paying their taxes so that and other services stay in place. And you'd then have to accept that it's your duty just as much as anyone else's to pay into that pot - particularly if you are least at risk of financial hardship. Tax is good for everyone.
On the Subject of Agri Equipment nearly all of the assets used in a working farm will attract either agricultural property relief (“APR”) or business property relief (“BPR”) at 100 per cent. This means that no IHT is payable at all on the transfer of these assets.
That's a relief, since most farming equipment is really expensive. A combine is like 1 mill on its own
Clarkson bought a farm to skirt taxes... He isnt a real farmer
Millionaires like Clarkson and James Dyson who've been buying up all the farmland to avoid paying tax are a greater threat to our food security than any inheritance tax changes, last year 56% of farmland purchases were from non-farmers, for the explicit use in tax ivasion. Boo hoo, millionaires having to pay their fair share, let me play my smallest violin.
But it’s clear the policies that destroy family farms , their land will be brought by corporations and the government as basement bottom prices and it sill be converted for land for houses and farming yields will then reduce
I take it you're a fan of steve buscemi
Inheritance tax shouldn't exist
a lot of farmers arent millionaires though, clarkson is the exception, not the example
Yes but if they still produce the same yield of food I don’t see much of an issue , it’s when after this policy land will be sold by broke farmers at rock bottom prices and corporations and government will buy the land and build housing and data centres etc and yield will reduce nationally
0:44 done with name calling. Now they're far right conspiracy theorists
Don't forget near the end where they basically say "if you hate the NHS you support farmers"
You know it’s a bad decision when the governments only defences are the ways people can get around it, “a married couple will get £3million” - so your saying £1million is too low “you can pass it on 7 years in advance” - your saying you should just dodge the tax
Farmers can do one, nationalise farming and take their land.
@@ramkedoodle you can do one, you lazy townie!
@@ramkedoodle Nationalise the land, yeah because that has always worked out well. How about you leave the land to folk who actually know how to run a farm and we leave you to your job
Notes:
0:30 If you start with the claim “Part of a plot to ethnically cleanse the countryside of farms to build new immigrant towns and solar farms” and not the arguments that got him there, make it much easier to dismiss those that agree as “right wing conspiracy theorists”. In fact, the term “right wing conspiracy theorists” already begins the videos with a biased framing against those that agree. For those that are curious, his reasoning is as follows:
In order to pay the inheritance tax, farmers will need to sell their farms (this is a factual starting point) -> The only people willing to buy the farms are foreign billionaires and the government (This is also true. They're the only people with the money & motive to buy them) -> Foreign billionaires would use the farms as solar & wind farms (current subsidies make this far more profitable than farming and cost much less). The government would use these farms to house migrants (This is mainly speculation based on trying to predict the government's motives)
It also doesn't help that an ex-Labour advisor said "do to farmers what Margaret Thatcher did to miners".
1:30 You glossed over what agricultural property relief is far too quickly. Without a deep dive into why it exists in the first place, how is anyone meant to know whether scrapping it is a good idea. The arguments for or against scrapping it are not enough; why is this tax exception even a thing in the first place? For those that are curious, most farmers have been on those farms for more than 3 generations (since WW2), and APR was made to encourage family farms by allowing cash poor asset rich farmers to pass on their property tax-free (the costs of assets scale to 0 generationally). Therefore, removing this would get rid of these generational family farms. I would argue that this is akin to a 'cultural genocide' but more importantly, will affect the cost of food.
1:37 £1 mill cap means nothing if I don't know the average cost of assets (for context, it's allot more than £1 mill). 1 tractor alone is worth £¼ mill. There are very few farms worth under £1 mill.
2:10 While true, this is a massive over simplification of their argument.
4:50 There are better ways to target the super rich. This targets your average farmer.
5:20 What if a farmer dies 7 years after the tax in introduced (farmers are an ageing population). £1.5 mill is still not much for a farmer.
6:00 HMRC is an estimate by the government. You can assume they're biased in favour of their own policies. According to the National Farmers Union (NFU), 66% of farms could be affected by the inheritance tax changes.
6:25 Assets != Money. This isn't based on the levels of taxes, but taxing farmers (the people that control our food). We can target billionaires using tax loopholes, without going after farmers.
yup
Inheritance tax is a double tax, double taxing the earner and double taxing the recipient.
The earner paid tax on income, on purchases of the assets.
The recipient will pay tax if they seek to realise any capital gains and from income tax for selling assets.
Inheritance tax exists just to take money away from families and uses the event of a death in the family to obfuscate it's immorality.
The Farmers problem is not IHT. It is food manufacturers and retailers not paying enough.
IHT is easily avoided by family farms by giving the farm to your children at least 7 years before the farmers wife dies.
Really thatvs good to know
how do you actually determine when is 7 years though. How do you determine you will die???? if i hand over now and 6 years 6 mths passed and i died of an accident. do my kid then have to pay the IHT?
good thing the tax is not based on a standard timing and not on something silly like whenever you die, that would be really crazy
@@gweejiahan9336so hand it to your kids earlier? fairly simple solution
@benradical YOU HAVE TO PAY RENT... BECAUSE IT'S NO LONGER YOUR ASSET.
Why are you being so greedy?
Wow this comment section is going to be completely civil and have no disagreements whatsoever
I mean, given it’s a video about taxes, it is pretty civil by American standards.
You should see the comments on msm coverage, it's all double digit IQ yelling
The fact that absolutely everyone with a connection to farming, regardless of whether they'd actually be affected by this or not or their wealth level, is calling it disastrous and everyone calling it good and fair has zero experience or knowledge on the topic other than "EaT tHe RiCh" says it all to me.
If you look you will see the people who finance farmers saying they the majority will pay nothing, and the few that do can afford it
How many of them know it won't affect them? It's not the first time people have protested based on things they have been incorrectly told will affect them but actually don't.
I am part of a rural farming community in the West Midlands. I honestly don’t know of many of us that are bothered by this as it literally won’t affect us. The only people this is gonna affect are the top 1% of us who can afford it…and the super rich dodging tax
I have listen to a few tax experts who know more IHT than I do. They have all said that the limit could be as high as £3 million before they have to start paying tax.
I think this is a case of misinformation by certain groups. Funny how there were no mass protests against the loss of subsidies, the loss of access to the EU, the trade deals with Australia and NZ. I bet most of those protesting today will not be affected by the tax one bit. Dyson and Clarkson have admitted the reason why they are buying farm land is to avoid IHT.
These are the same farmers who by and large voted for Brexit, which is the biggest issue with their own profitability, correct?
Yeah im gonna go out on a limb and say maybe they arent the most informed and dont have an interest in becoming informed.
its been a common way of dodging inheritance tax for years.
Since around 2000, when farmland prices started rising rapidly as rich people bought it to avoid inheritance tax
Perhaps it has but how does very wealthy people buying land as a tax dodge translate into actual farmers being forced to pay inheritance tax on their land help anyone?
Inheritance tax is theft.
It may be, but it does incentivise people to keep it as farmland since that becomes a valuable asset. If this is changed, not only would farms brake down into smaller farms, but I believe a lot of arable land will be put to other purposes since farming isn't profitable and the rich people that own it would want to make money out of something that is no longer tax-free. This would go against the goal of becoming self-reliant and insulated from things like the war in Ukraine in terms of food supply. Personally, I believe changing farmland to be used for another purpose, vis-a-vis building houses, should come with a hefty tax.
Clarkson has clearly said that's why initially bought his farm, maybe that's what brought it to the public conscious
Corporation's dont pay inheritance tax.
Force small farmers out > get his buddies more money. Thats the plan, simple.
I think you failed to mention that farms yield about 1 to 0.5% on the value of the land, meaning you are taxing 20 to 40 times a farmers income.
Also who is going to buy?
A combine is worth £0.5m.
Farmers should be taxed inheritance tax but start at 1% and increase it so farmland can have time to lose value so people that want to buy it can but also farmers can pay for the tax.
You are correct, and all these knee jerk reactions of people running to the defence of the government should be recounted to them when farmers go out of business and farm land is increasingly bought up by corporations.
@@suburbanyobbo9412corporations that manage to run farms much more efficiently and effectively than smaller landowners. The top 9% of farms make up over 60% of the national output. These farms have higher margins and can afford to sell cheap food.
@@aceman0000099 There is no evidence that corporations manage to run farms more efficiently or effectively that small landowners in the UK. I have studied agriculture at higher education.
@@aceman0000099 This is such a spectacularly, horribly, terrifying idea. I don't think you really understand what you just said.
Mega corporations owning the majority of farm-land, controlling all food production would basically allow them to do anything they want - Oppose them? Good for you, enjoy starving. And that's just from active malice - using the power they acquired for their ends, which they would definitely do - and not getting into the devastating effect it would have if they just messed up due to incompetence.
If one farmer manages their farm badly, their crops fail and people have to get food from elsewhere.
If the mega-corp controlling all farms messes up, enjoy famine. This is basically why USSR had so many famines, their central controlled agriculture caused untold starvation and suffering - there the “megacorp” was just the state, but there is no reason why it would be different with a company. The leadership is still a bunch of people who mostly got their jobs due to connections, andwho have no idea about the realities of what they actually manage.
@someoneprobably1802 yes no a single corporation would be terrible, but if even it was 400 or 1500 farms in healthy competition that might be an improvement on the current system. I think the main point is just having them big enough to run as a business that can afford proper employees and accountants etc rather than some kind of family career. I know it sounds cold and dismissive (or naïve even), but it's more of an economical attitude I'm trying to push, not any concrete systems or manifesto I'm dedicated to
So, no doubt all our farmers will be labelled far right for protesting?
It’s the far left that will label anything normal as far right
😘😘😢😢
Did you miss the part where Clarkson says the government "wants to ethnically cleanse farmers to make space for immigrants and net zero windfarms"? If you don't want to be labled as far-right, maybe don't use far-right talking points?
@@Bravo-oo9vd are you stupid?!
@@Bravo-oo9vd So not wanting ethnic replacement is apparently far right now?
Ironic that a party that calls itself “Labour” would try to bankrupt farmers. 😢
They used to be the party of the working people, but now they lost that title when they moved to the centre of the platform. It’s a shame they are not following their priorities of their party’s platform. If maybe Jeremy corbyn was still leader and wasn’t kicked out because of rumours of antisemitism, mabey they would be a proper labour party
This is just my thoughts on why they lost that title. They used to have proper labour politicians like Tony Benn and Clement Attlee but know they are ran by centrists
I don’t know maybe someone have better explanations than me
And the fact the Kier starmer kicked out left wing members of the party further destroys its title as the party of the working people, which could be another reason why the Workers party of Britain was created to be a better Labour party
The plight of the farmers is NOT about the inheritance tax: it is about the crushing rise in cost to produce of food over the last 5 years or so .. the supermarkets give them precious little profit, so farmers are almost on their needs.
As an accountant it’s worth pointing out that the Resident Nil Rate Band is only available on the main residence of an individual passed down to a direct descendant and is tapered off if the individuals entire estate is worth more than 2 million which is likely the case if they own farm land and are worried about these tax changes.
"Right wing conspiracy theorists" we always seem to get that label when we dare question something. Funny that...
Conspiracy theories because you have no evidence, only feelings. Right wing because that’s the side of the political aisle your ideas are associated with. If you don’t like it, become left wing or get some evidence.
The specific conspiracy is ethnic replacement via 'immigrant towns'.
Any evidence for that, or is it just baseless 'questioning'?
(which btw, is essentially what a conspiracy is)
Yeah farmers questioning and challenging policy - Fine, normal behaviour in a democracy
Assuming it's all to do with shipping immigrants with no evidence - Right wing conspiracy
Lmao if you actually believed in the ideas you subscribe to and didn’t think they were ridiculous, you wouldn’t even think the blank term applied to you
@@zbg31 And the Jews want that to happen because… uh… they’re evil, or something…
"Right wing conspiracy theorists". Man you guys have fallen so far from neutrality.
Ethnic cleansing?
yup
Right wing conspiracy theorists in 2024 actually means people with common sense...
😂 no@@MarcWagner-z5c
I don't think it's in line with journalistic integrity to be "neutral" regarding people who believe in jewish space lasers and government weather machines. Right-wingers always crying victimhood because they don't understand reality.
It's not fair at all.
Farming equipment is expensive
Land is expensive
They're working to produce OUR food, not for themselves and we're punishing them for it?
Farmers not working for themselves. i have heard it all now.
@@jamesthomas4841 go and be a farmer then if it's that easy and there's millions to be made
@@benpriest1418So you believe it's fair that farmers pay zero tax while everyone else pays some tax?
@@tobos8909 you don't think farmers pay tax?
@@benpriest1418*In the context of inheritance tax
6:08 So basically 75% of the farmers are protesting a policy thay doesn't even affect them...great ..
Also, why do they dispute the figures? Osnt the value of their land and assets a matter of public record?
The figures are very disputable, I may be bias because I'm a farmer but there's no way these figures are right. These are the labour governments figures by the way and all the significant opposition parties are disputing these figures as are the NFU and general sentiment.
Soon you will hear in the news about other organisations and experts disputing these figures because this really does seem like a cock-up. What are the chances that Labour is right and all these other voices are wrong?
@viewer.123 🤷🏾♂️
I think the intent of the law is good but how they implement it will be important...they could say passive land ownership where they are not actively working the land directly (not via contract farmers or some other means) will be taxed differently from active direct farming land maybe?
The whole goal is to tax those using the existing structure to hide their wealth from taxation...
Also, the land is valued at a price for tax or other purposes - such valuations aren't labour or conservative valuations...they are just valuations...no land owner should be allowing false appraisals for taxation (especially when it's overvalued) there are already ways to contest the valuation...
That is what I am point towards...these valuations are public record right? So how can it Labour values vs Conservative values? It isn't a subjective number right?
"Farms under 1 million..."
These days, that Million barely accounts for the bloody TRACTOR.
Would love for you to send a list of farms available for less than a million pounds…
£2m. The £1m is on top of other allowances.
@@iainamurray” most farmers won’t be effected because their farms aren’t worth £1 million” timestamp is 6:06
It's possible to get the threshold up to £3m, for a married couple. Farmers need professional advise.
@@jjefferyworboys8138 they have no money… who’s giving that advice? At what cost?
@@t2-scoops436 The Agricultural relief is £1m. You also have your nil rate band and Residential Nil Rate band and spousal exemption.
Kier Stalin living up to his namesake to clear out the Kulaks
Wow ur so reasonable and compassionate for anyone who actually experienced Stalin's impact 😊
@@armaan6101 the policies are the same durak
Cry more
@@ramkedoodleor get angry
@@红太阳-z2m I have no idea how you can compare agricultural collectivization with a freaking inheritance tax.
Farmers 2016: 'We want Brexit'. 'Take back control'.
Farmers now: 'Where's all the EU cheap labour gone?!' 'Where have all our EU handouts gone?!'
I didn't think leopards would eat MY face!
That's the comment right there, the one thing no one is saying till now!
@@djoldschool family farmers don't use EU cheap labour. Massive corporate farms do.
Farmers 2016: 'We want Brexit'. 'Take back control'.
Labour party: 'We will punish you for Brexit'.
@@timsyoutube6051 I really don't think that's true. I've seem plenty of interviews from small family owners complaining about having foods rotting in the fields due to a lack of workers.
Have been loosely following british politics since the brexit and it seems that every new government is up to out-do the last in stupidity.
I would have thought a farm was a LTD company with the amount of business they do. Then you can just have your children on the board, and step down when you retire.
"right wing conspiracy theorist's" what?
The ones who think the country side is being ethnically cleansed for immigrant towns. Thats a right wing conspiracy.
Think he means the Daily Mail, The Sun and GB News and those who support them.
What would you call the people saying this is all part of a plan to force farmers off their land so that 'immigrant towns' can be built in their place?
The whole "ethnic purge" thing. It's a depressingly common right winger thing to scream about how we're going to get replaced by whatever type of foreigner is in the news at the moment. Go back seventy years, and they were screaming their heads off about Jamaicans coming to the UK, but lo and behold the Jamaicans have yet to take over the country despite three-ish generations.
@@TheBlueGuard Olukemi Olafuntu Adegoke is leader of the Conservative party. This is normal.
I wonder if this whole conversation is missing the point: UK farms are predominantly held by an aging demographic, with the majority not having concrete plans to pass their land on to a relative when they retire. Meanwhile the largest farming companies in the UK have been doing their best to buy up this land. Labour, as I see it, is effectively trying to deincentivise this practice w/o challenging the tax relief currently going to these big players.
I do think that this needs to be the beginning of the package for farmers, as govt intervention in supermarket practices, rejigging tax relief away from meat & dairy and towards plants, land rejuvenation, and equipment is probably going to do more for the average farmers pockets than the status quo. But if farms get caught up by large corps over the next few decades, prepare to see more USA style agricultural issues in the UK, and a loss of tradition which is what most farmers are looking to protect.
Oak, Ash and Thorn!
You are literally brainwashed
‘Right wing conspiracy theorists’ bias much? 😂
“Conspiracy theory” is just a euphemism for “a concern I’m not interested in.” It’s a lazy epithet for journalists to summarily dismiss issues that don’t fit their narrative.
And TLDR is enthusiastic about dismissing issues that don’t fit their narrative.
British agriculture had been in decline ever since the late 1800s, when cheap, abundant grain from Russia and North America swamped the British market. It's one of the biggest reasons why Britain has been so reliant on importing food that Germany twice attempted to starve the UK by sending submarines to wreak havoc on British shipping.
Small farms will never be able to compete against large corporations. The only thing we do by continually subsidizing and giving in to farmers' demands is to prolong their inevitable decline. Their stubbornness and attachment to their outdated way of life is just going to hurt everyone else.
Abolish all inheritance tax, and also abolish all the tax free zones on the islands around the UK. Simple really.
Just abolish most taxes, and most government programs, none of them work very well either way
Right wing conspiracy theorists? You've left yourselves down with this one.
If you really think the government, which to you guys is somehow simultaneously competent and dangerous and incompetent and run by idiots, is going to turn the Cotswolds into a slum town for migrants, you are too lost in the sauce to see sense.
Absolutely. Unbiased or prejudiced - choose one.
The average farmer earns around £26,000 a year, farms (no matter the size or value) aren't just hard cash, they need to be worked consistently and invented into for returns. When a farmer inherits their farm they arent getting a bag of gold, theyre getting a chunk of land they need to spend every day working to make a living, the inheritance tax is going to ruin the lives of thousands of farmers who's families have held onto and nurtured that farm for generations. They'll need to pay nearly 1.5X their yearly salary for over a decade to pay off the tax, its vile and a direct and unnecessary attack on farmers, meanwhile the government can afford £3B a year to Ukraine for "as long as it takes", £14B a year on foreign aid (most of which funds foreigners living in the UK), £11.6B on African climate aid, £8.6B on GB energy and £100M to train drivers who already have an average salary of £60,000, absolutely disgraceful.
The average farmer doesn't pay inheritance tax!
I mean they used to have subsidies from the EU, but most farmers voted for Brexit, so really this is a mess of their own making. Inheriting land AND a business at the same time is something that you should be taxed on.
@@AshOwnz9 you realise the average farmer can still own enough land to be included with this? They INHERIT the land, they aren't buying millions worth of land, they still have to work that land and pay farmhands on top of that, many many many farmers are still unnecessarily going to be made bankrupt while the government spends money on more pointless endeavours.
It's also bullshit: A married farmer would be liable for 0 if the value of the farm is less than 3 million just using their personal allowances.
This bill hits about 50 farms in the UK, all corporate owned (or shell company owned).
The low income farmers you seem to be citing tend to be tenant farm holds and guess what, they don't pay this either.
@@AshOwnz9 ~60% of farms are above 1m dollars in value so yeah they will lol
Such taxes are short-sighted. Food is an issue of national security. If you have WW2 again, you better be able to live off the remainder 60%.
All that for a 22Bn hole. Why don't they explain people brexit alone is costing us 100Bn/year? Have they not consider rejoining? Are U farmers aware of this?
Clarkson is on record as saying that he only bought the farmland as an INHERITANCE TAX DODGE
Thats one farmer of how many?
You can add Dyson to that list that's two, of how many?
How the hell is that justification? Taxes for that is still insane!! My god you leftists are just toxic to society
The argument that farmers just cant afford it is just down right disrespectful in my opinion. The average UK Citizen has struggled with tax for years and made it work, non farmers who dealt with inheritance tax if they couldn't afford it would have to sell part of the estate, Weather you like it or not most farmers are millionaires. Their assets exceed 1 million, They have had god knows how many subsidies. We regular people struggle with normal tax, why is it fair for them to get subsidy after subsidy and also be except from tax
But they farm. The assets they hold can be liquidated- but that's only likely if they sell it to developers. The problem is what was started in '84 with land prices. Most of the value is farm equipment, land and their homes. Their homes and jobs are tied together. So, this will bankrupt many farmers - who produce food. It just seems very odd to me.
Your ancestors were all farmers 100 years ago. Your a city dweller becouse your Grand Father said he would do so much better than his brother farmer. You doing better than your couson farmer? Just becouse your doing worse than your 5th couson who stayed looking after the cows. Them death taxing us all is Good? Tax the serfs LOL. They are taxing you when you die and saying its Good. Bow to our Glourious Leaders 😀
Because farming is essential to the economic security of the nation, a lesson we learnt during the Second World War, when the whole nation had to be regeared to produce enough food to feed the people of these islands without imports. Farming is subsidised for a reason. Once the infrastructure that produces our food is gone, it will be near impossible to rebuild. Build housing estates on prime agricultural land, sold to pay an inheritance tax bill. Do you think that land will ever return to cultivation? Never.
@ and why do you think that land is so expensive? The land was hiked to an all time high when the Inheritance tax was removed as millionaires were rushing to buy land to avoid paying the tax
Multimillionaires don't like the idea of paying inheritance tax, aren't we all shocked?
I'm not sure how so many British farmers manage be to so inept that they apparently earn nothing, whilst tenant farmers who don't even own their land or house and have to pay rent on these somehow manage to make a profit healthy enough to pay rent and to support their own families. I guess the landholding farmers must be giving the crops away for free since they're such saints :)
The upper tax rate is 45% compared to 90% that it used to be before the Thatcher Government.
If they want more money, close tax loopholes holes for the super rich, and increase the tax, not target the little guy.
Only way to close loop holes is flat rate of tax. Complex tax systems create surface area for loopholes.
If you're passing down assets worth over a million pounds, you are most definitely not the little guy. Half the country leaves no inheritance at all, and the vast majority of the rest are below the threshold for inheritance tax. Farmers will still get far more exemptions than any other groups (like 10 years to pay the tax bill).
This IS them closing tax loopholes. And anyone with million pound assets is not the little guy.
I agree, overall tax the rich. But farmers voted for Brexit, it's literally their fault.
@@obiwanjabroniXThis is relevant to the EU exactly how? I am pro-EU market from Finland, but even I realise that the EU would only hurt british farming, and currently the oligarchs here are planning to bring in Ukrainian grain which would kill any farming in Britain.
In 2021-22, Treasury figures show just 117 inherited farms were worth over £2.5m, meaning the vast majority would have avoided paying any death duties
Surely if you make an exemption for inheritance tax for land used for agricultural purposes itll incentivise more land to be used for it? Include green energy farms in it and we're laughing right?
An interesting comment.
Agricultural land can be used for a variety of purposes, not just food production and some of those other uses generate a lot more income.
Government attacking the wrong people again, absolutely disgusting behaviour!
So when the Gov does attack the rich or Corporations are you going to say there also attack the wrong people? who is the right people?
@@ASBO_LUTELY What ? 120 multimillionaire landowners each year.
You mean the government shouldn't tax the rich?
@@MrHighRaw £27k per year isnt rich. Thats the average farmers income.
@@MrHighRawfarmers aren't rich, their take home salary each year is about £10,000 less than the average UK salary, they are by definition poor. They have land which they farm, the land and agricultural buildings are worth a lot, but that's the requirement for the job, that not liquid money they can handover to the government for inheritance tax. They would have to sell the farm to pay the inheritance tax, at which point you can say goodbye to small local farmers and hello to large corporations who won't have inheritance tax issues.
A great source of farming information is Harry's Farm.
This is the same group of people who voted for Brexit when they were benefiting being in the EU so you reap what you sow
👏👏💯
I filmed a short documentary in uni about a local pig farmer and he voted for Brexit because he thought there were too much paperwork and restrictions on his farm. Irony is that this has massively increased since and would have likely reduced how much he could sell overseas
So just to be clear.
Because they made a political decision you disagree with 8 years ago. You believe it’s just for them to lose their family heritage, property, and way of life?
@0ri0n_Atlas That's Karma!
Because of Brexit their protest has a chance, it would be meaningless whilst still in the EU. You may not care about farming, but maybe one day you will need to protest about something you do care about.
You will be thankful it’s only against the U.K. government on that day.
The fact that farmers and working class people can be right wing economically is a mystery to me. It makes sense for rich people because it benefits them, but it's like the working class have had the wool pulled over their eyes
@@charliecrome207 socialists and communists want get rid of private property. You took away all the farms and made them collectives controlled by the party. Ban self employment. Bring self employed or in a small ferm are the places the working class can make money. The opposite of what socialist want
There just Robber Barons with a smile saying we will look after you. But want all you can make.
The damage that this bill has caused has already done damage, EVEN if it it repealed - some farmers would have said "I've had enough" so damage was already done - and for that, the person in charge should go to jail.
I feel that the concept of a death tax is absurd. Those assets have already been taxed - the government needs to be incentivized to be more efficient with our funds.
I think making the government more efficient won't save any where near enough money to fix any of our public services.
yes I agree the government shouldn't be spending billions on the military when we have no enemies
@zax1998LU auslander
It's not a death tax, youre not taxed, you're dead. People that benefit from a lump sum of wealth that they haven't earned pay the tax. Society is expensive, and needs taxes to run. I don't think people that work hard for their income should pay taxes on that, whilst people receive a lump sum of wealth through generic lottery, and then generate income from that wealth and pay less tax on that.
@@richardround2071 No more a lottery than a ticket to a hotel for being born in a non western country
This is a land grab, not just a tax grab.
A land grab by who?
@ by the government, big financial institutions, and billionaires. They all stand to profit from the eradication of family farms.
If the reason is to target rich people buying the farm to pass down as inheritance to avoid inheritance tax. Why not tax the buyer of farmland Y% at point of sale when they are purchasing over $X amount. If majority of farming peeps are just passing down their farmland as inheritance they would not be affected.
Funny you say that. There is something called Stamp duty which is a tax on buying property or land.
Additionally, it doesn't achieve the same thing - you might pay some tax when you purchase it initially, but if that means you never have to pay inheritance tax on it again, then after some number of inheritances (dependent on the ratio of your proposed stamp duty increase compared to normal inheritance tax rates) it will still be a net tax reduction, meaning it would remain an efficient way of avoiding tax
Just for clarification on taxes on property. You pay stamp duty to buy property, then you pay capital gains tax if you sell the property for more than you bought it and you pay inheritance tax if you transfer the property to your children or grandchildren. All of these have thresholds but the thresholds have hardly changed to keep up with the increasing value of property.
You buy a farm in 2010 for £2 million, paying stamp duty, ypu die 35 years later and pass on the farm now worth £18 million, your son then sells it a few years later and gets 20 million. The problem ive illustrated is inflation which the initial purchase tax doesn't quite follow.
Clarkson told the Times in 2021 that avoiding inheritance tax was “the critical thing” in his decision to buy land - but said today that he had bought the land "to shoot".Tax avoider,plain and simple.
Good. Taxation is Theft and Inheritance-Tax might be the most morally illegitmate one of all. It has no legitimate argument and is strictly only a means for the State to pocket more money for bureaucrats as well as satisfy undisciplined spitefully-envious useless losers.
Everyone should avoid paying taxes and everyone tries to - just some are more honest than others.
If the Government any of the UK Governments was serious it wouldn't of spent £4.3 billion associated with asylum seekers in the UK in 2023 this is going up every year, spending money on people who have not paid anything into the system is costing people like the farmers and the public at large. Imagine what could have been done with those billions for the British people.
Its not surprising that a London based news channel doesn't understand the implications of local farmers going bust. Farmers = Food.
What a shame that once the land is bought by an agricultural company it's wasted because the company doesn't know or want to produce food, and only little wholesome farmer knows how and wants to do it out of a goodness of their heart.
@Bravo-oo9vd don't believe all the propaganda you've been fed. The vast majority of farm land is used for farming and making most the food we eat. But then maybe you're also from London so don't appreciate British grown food and prefer having avocados shipped over from abroad and try to believe you are helping to save the planet whilst not caring if the country is taken over by foreign corporations.
@VincentVance-j4w no thats not what will happen. Just like with our oil and gas, foreign investors will buy the land and make it profitable by making us pay alot more for it and then sending the profits abroad and to its share holders. Don't be fooled, thats what Labour want. They've already had meetings with people like Bill Gates. Feel free to Google his land ownership and its interesting that he had meetings with key Labour Party MPs just before the budget announcement.
Could just ya' know... offer up dealing with Brexit woes that cost farmers waaaay more? What? Farmers and rural areas voted in majority for Brexit? Huh.
Tbf farms all over the continent are not in any better shape , protests in France Netherlands Germany etc so it’s not like the grass is greener on the other side
Like children we need to take extra care of them even if they do make mistakes. Its a sad truth but even if they voted to basically f*** themselves, the UK government still needs to defend the farmers.
@@SDDT24 Agreed but UK farmers have it much worse atm. But yeah I think the general trend is farmers always tend to get shafted.
@@holysword876 The UK Gov is literally fucking them over, what are you on about?
That’s a fallacious argument. Brexit has hit farmers badly for two simple reasons. The main reason is excess red tape means it’s much harder to get their goods exported to the uk’s largest food export destination the EU. This means it’s more expensive to export to the EU and not as much can be exported as demand reduced for uk produce in the EU. Other reason is that since less skilled hardworking farm workers can come to the uk and work on farms there has been a big labour shortage in farming and of course this causes all kinds of problems including reduced profits for farmers. Uk people haven’t really filled in the lost farming jobs because they’re hard work, remote and still relatively low paid even if an increase in demand has lead to pay growth here. There are many other reasons why Brexit has been bad for farmers and consumers. We’ve now got more expensive and lower quality food riddled with more chemicals. Great 👍. The reasons for farmers protesting across some European countries are varied and sometimes strange. Unfortunately there’s not much correlation between what really negatively affects farmers and what they protest against. If there was there would have been much larger protests by farmers against Brexit than against a policy that leads to higher inheritance tax for about 500 of the wealthiest farms per year. Unfortunately a lot of farmers seem to be swept up by misinformation on social media and culture wars. There are farmers across Europe protesting against things like trade deals with other countries that will undercut farmers which is valid and similar to Brexit in a way but far less damaging and on a smaller scale.
Personally I think all farmers should just go see a psychic and figure out when they are dying so they can hand over their farms seven years in advance. Problem solved. Or maybe this is why Labour wants to legalise assisted dying?
Underrated comment 👍
It seems like such a low number if you're trying to tax the richer farmers or property holders. Why not start at £3-4 million which is only going to affect the real top rich land owners who are trying to avoid inheritance tax if you're trying to make it fair?
As I understand it, this tax is indeed for farms over £3m. A non farming couple leaving their main residence to children has a combined tax threshold of £1m already; this allowance is extra, which apparently means a farming couple will end up with a tax threshold of £3m total before 20% tax is paid.
@@lexiedennis9991 Well explained, sadly most RUclipsrs blindly believe what others with an agenda tell them.
my dad used to work in agriculture. And ended up knowing a lot of farmers. I think pretty much all of them were tenant farmers who farmed land they rented off hugely wealthy farming families who'd brought up the land that used to belong to smaller farmers in hard times, and are now renting it back to them to actually work. Or had little family owned farms in places where land was soo cheap and unproductive, like up in the Welsh mountains, that no rich person had ever bothered trying to buy it out. Neither group would ever need to pay this inheritance tax. Most farmers don't have millions in assets to pass on. Most people who actually farm our land don't even own it.
In fact i just looked up the numbers. 70% of the farmable land in the UK is worked by tenant farmers. If this forces those rich land hoarders to sell off some of their land to pay inheritance, maybe the people who actually work the land and produce our food will be able to by it back from them
I think inheritance tax should be non-existent altogether I don't care how rich or poor you are that money should not go to the government that money should go to your family and that's end of!
Agreed, but taxes would you increase to make up the estimated £9bn it will raise this year ?
@@jjefferyworboys8138 You pay 20% income tax then 20% vat when we buy things. So 40% of my wages goes on tax. If I give you something over 3000 tax man gets interested. I own anything and it goes up in value tax man is interested. Government gets 40% of my wages and still not Enough ???????
@@jjefferyworboys8138 just found out the uk gdp is 2.3 trillion and the government gets 1 trillion and they are broke ????
A good rule of thumb for any country - don't piss off the people that put food in the bellies of your countries people
They don't.
They sell to any country that will buy.
And half our fresh food is imported.
It isn't a TV show, it's capitalism.
@@lenniegodber7805 Farmers are easily upset, if they bleat about only paying a fifth of the IHT the rest of us do
Yeah but no, they don't, that food is piled up in heaps to rot while food is imported. Maybe you should give respect to actual farmers abroad and stop with all the wars.
Why not? Why a group of untouchables?
@@stephfoxwell4620 Sure they are mate, when the inheritance tax means the destruction of their family farms to bankruptcy. Then Britain will have to import even more of its food and the money goes overseas. Rural areas decay as a result.
Inheritance tax is insane to begin with. Being taxed on income you were already taxed on, after your death, is bananas.
Well you’re not getting taxed if you’re dead
@@lachlanchester8142 Except you are.
@@SaintGerbilUK well you’re literally not, it’s the money and possessions that are getting taxed and the person inheriting that has to pay the tax
The dead person is not getting taxed. Their heir, who has never, ever paid tax on this sudden, huge, unearned income, is the one paying inheritance tax.
It is the reason the country is no longer littered with an elite living in downton abbey style estates. It has its purpose.
Seriously hoping Clarkson starts his own Farmers' Party so we can live in the most blursed universe
If profit from farming is so low, you would expect farmers to be happy to sell their land to the crown, and then to be paid a wage to farm the now-public land.
Clarksons not a farmer. Do people think he does 15 hours days in summer? No way.
Exactly. But he is VERY interested in not having his kids pay inheritance tax on the farm(s) he bought.
I mean that’s just isn’t true , despite him not being the primary farmer of his land he clearly does work there essentially every day
So an old man has to do 15 hours a day just to still count as a farmer ?
@@SDDT24 You must be joking. He has a dozen full time staff. Any income is peanuts compared to amazon payments. Hes in his 60s and unhealthy too.
@@blablup1214 Well in this situation any person owning land to avoid tax seems to call themselves a farmer.
Oh my god you are taking the side of the government on this?
did you watch the video..?
Of course, it's a Labour government.
Well yeah, he's a socialist, and his dream party is currently in power.
Laws of self-preservation should come into play here.
We're an island. We need to be using as little land as possible with buildings. More buildings = Less land. Less Land = Less food.
Population is a compounding statistic. The more people there are, the faster the population grows.
I'm talking no doubt 100's of years away, but sooner or later we will run out of usable space for an every growing population.
Close the borders to people whom do not belong here, look after ourselves and self-preservate as much as you can, as soon as you can.
I'd advise you to first look at UK fertility rate and housing prices before generating such bullshit
@@Bravo-oo9vd Please elaborate which parts were bullshit. None of it was opinion, only the facts that we will eventually run out of land... Dichead
@@SDrtheone If you want to know where I disagree with your "facts" about "overpopulation" and "running out of land", you're welcome to read my previous comment however many times you need.
@@Bravo-oo9vdthe UK fertility rate is the EXACT reason we do not need more housing. It's artificially increased demand.
Yeah this is why the english Had to colonize so much in the past.
Just because it's valued at 1 million or more does not mean it will generate enough income to pay the tax and provide an income for the farmers.
There should be an exemption for farm owner operators. I agree that those simply using the land as a vehicle to pass on wealth tax free should be taxed, but I do not think actual farming families should be taxed on it.
This is one of the most insane things I’ve seen Britain do. Where will you get your food? France? Spain? They totally won’t over leverage you. America? When they’re about to kick off a triad war?
Public when protestors use vehicles to block traffic: 😊
Public when protestors walk to block traffic: 🤬
One are losers with nothing offering nothing, the other are hard workers feeding a country....