Budget 2024

  • Thread starter Thread starter ganganvince
  • Start date Start date
I see the Gocernments new "Value for Money" Tsar announced in the Budget, one David Goldstone, has clocked a £250k sallery.
Value for Money? Err...
 
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Silva Citizen said:
So at a stroke Starmer and his twatty party has stolen 40 percent of my surplus pension from my heirs by bringing pensions into IHT.
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What is a surplus pension? Do you mean that amount that you already know you won't spend? If so, how do you know you won't get dementia in the future and need the "surplus" to pay for care. And if 40% is "stolen", at least your heirs may be able to enjoy public services that are better than those we have now. And before you lay in, yes I will be affected by IHT.
 
bluethrunthru said:
Fewer than 2000 farms are affected by the IHT changes but - like school fees - people unaffected directly are persuaded by others that the sky in their unaffected world is falling in.

Big complainers are Clarkson - not a farmer but a TV personality who has a farm to use as a vehicle to film a show about himself - also bought a farm with the intention he could stick his money in there to AVOID IHT. Also gobbing off is Kirstie Allsopp who is not a farmer but is also a TV personality and probably by dint of background and birth stands to benefit from the proceeds of a farm upon the death of a relative
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Even so, it's disappointing that a measure can't be devised to distinguish between long-held family farms and recent purchases for tax avoidance.

And some "family farms" are big businesses, and you'd need some mechanism to prevent a "family" inheriting the farm then immediately selling it (or just the farmhouse, often the most valuable part of the estate).

There are farmers whose children aren't interested or have chosen other careers (a 79 year old farmer recently sold off his prize herd of Lincoln Red cattle for this reason).

I guess that in many cases, like the landed gentry had to sell works of art to pay death duties on stately homes, the tax could be paid by selling off (or mortgaging) part of the land.

Protecting tenant farmer families is another issue.
 
Vic said:
Even so, it's disappointing that a measure can't be devised to distinguish between long-held family farms and recent purchases for tax avoidance.

And some "family farms" are big businesses, and you'd need some mechanism to prevent a "family" inheriting the farm then immediately selling it (or just the farmhouse, often the most valuable part of the estate).

There are farmers whose children aren't interested or have chosen other careers (a 79 year old farmer recently sold off his prize herd of Lincoln Red cattle for this reason).

I guess that in many cases, like the landed gentry had to sell works of art to pay death duties on stately homes, the tax could be paid by selling off (or mortgaging) part of the land.

Protecting tenant farmer families is another issue.
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I'd make all farms state owned and run, then we wouldn't have any of this trouble.
 
TinFoilHat said:
Aye, cause Boris/Truss/Sunak were paragons of truth....
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Whataboutery at its finest ....doesn't make it right just because the conservatives were also liars.
There all the same,No need to defend whats wrong just because its "your" party.
 
bluethrunthru said:
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The farmer featured on the bbc news today they said farms 500 acres in Somerset. Out of curiosity I looked up prices for the region and, depending on whether it's arable or pasture and prime to poor, I did a fag packet calculation that suggested the land was worth between £3.5 - £5.5m. His sole argument for remaining exempt seemed to be that he was a custodian of the countryside. It didn't strike me as an argument that would win many people over.
 
BlueAnorak said:
The markets are taking the budget badly.
The Pound has fallen 0.66% today and nearly 3.25% since the start of October.
Borrowing Cost have risen accordingly.
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It fell 3p a few weeks ago after the Governor of the BoE said they should be looking at reducing interest rates.

Notable that the Euro also fell against the dollar.
 
Charities say the budget will cost them £1.4bn, which for NFP organisations with limited scope for rising prices is a big deal.
 
Manc in London said:
It fell 3p a few weeks ago after the Governor of the BoE said they should be looking at reducing interest rates.

Notable that the Euro also fell against the dollar.
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Currencies always decline on perceived or actual reductions in interest rates - it’s the nature of the markets - you pay them less they’ll want to hold assets of someone who is paying them more (and who isn’t a basket case) thus they sell your currency and buy theirs.

What would be concerning is increasing yields and a decreasing currency. That signals some loss of confidence in the economic direction of a country.
 
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