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But do you not understand how tough farming is, especially post-Brexit when some of the subsidies were lost and costs have increased massively yet the prices farmers can charge has not? On the BBC News tonight they said pig farming costs had gone up 54% since 2019, cow farming costs up 44% and cereal costs up 43%. The NFU said that the margins are on average 0.5% return on capital. Land and buildings are assets that don't make money until you sell them...it's what you do with them that makes money and farms are struggling to make money and so many farms are generational family businesses so never realise the assets (one farmers on the news said his farm had been in the family since 1822) but will have to to pay tax for continuing the family business. On another news item tonight there was a short piece saying the government has said that 50,000 more pensioners will be forced into relative poverty (60% of the average income) due to the Winter Fuel Allowance removal which will rise to 100,000 more by 2027. James Murray from the Treasury was rolled out on Newsnight to try and defend that and couldn't. You can't give doctors 20%+ and push more pensioners into poverty as a result. The problem for Labour is the court of public opinion will judge them and right now the jury is out after a series of own-goals, really poor communication and ill-thought-out idealogical policies. And don't ever annoy the farmers.....;-) -
That % of “affected” doesn’t mean they are all in deep trouble. It means this will touch on them in some small way mostly - apart from the biggest farms it’s like high rate tax earners taking to the street when Osborne dragged child/benefit claimants into self assessment. A mild pain the more I read, the more obviously confected it is. Still - just as with farage and his banking “woes”, a social media campaign is no barrier to the gullible what percentage of farms affected by Brexit and to what degree compared go IHT? Or does that not matter? Thats different money is it? -
Farmers groups say 35% of farms will be affected while the Treasury reckons its 27% - neither figure is a tiny portion. The problem is farming is often asset rich but cash poor meaning that those who inherit farms and have to pay the tax will likely need to sell land to pay for it and could well further impact the cash poor nature and productivity of that farm. I would have thought those who align on the left would be welcoming farmers protesting on the streets against a government making their lives more difficult. Good on them. Makes a change from tube and rail strikes at least! I was shocked to read that the average weekly earnings for agricultural workers was significantly lower than the national average. Clearly Labour doesn't consider these working people.
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A tax change that affects a tiny portion of farmers livelihoods and income - mass protest and wild accusations on forums like this Brexit which impacted farmers income and uk food security far far far more ? Crickets. Absolutely nothing. “Price worth paying mate “ Don’t be fooled about what this is about - it’s isn’t IHT.
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