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The Labour Government
- Thread starter SkyBlueFlux
- Start date
Cheadle_hulmeBlue
Well-Known Member
- Joined
- 27 Oct 2012
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- 16,903
To be fair that’s one person. Large numbers of farmers aren’t wealthy and make little to no profitIs that Jeremy the one that bought a 1000 acres for £4.5 mil so that he didn’t have to pay any tax to the government, which was a big thing for him and his family, then when the actual farmer retired, built a mansion on the property, which is now worth approx £13 mil?
I do wonder why these people are complaining?
Farmers where an endangered species back in 2016 for them.
These days they’re seemingly the enemy.
I keep hearing the phrase “rich farmers” which is a bit of a major giveaway for our class warriors I’m afraid.
I think the phrase "rich farmers" comes up a lot, because that's who is really driving this debate, and who is really going to be affected.
I've heard from Clarkson, Dyson, and Lloyd-Webber telling me that it's the small family farmers they care about, but not much from the farmers with the farms worth £2m or less, which surely is the majority?
Alan Harper's Tash
Well-Known Member
- Joined
- 12 Dec 2010
- Messages
- 59,831
There’s never likely to be an agreement on percentage. Everyone wants something slightly different.I think Teresa May talked about putting a trading tax on international business and Obama and Trump basically threatened the UK with punitive measures if she went after US companies that avoided paying. corporation tax in the UK.
During the Brexit debate she also threatened to lower UK corporation tax to the same levels as Ireland, ie 12.5%. At the time this was met by dismay by the Varadkah who basically stated that this would destroy Irelands economy which is based on being a tax haven for UK companies. Subsequent to that Rishi Sunack announced in early 2021 that he would raise UK Corporation tax from 19 to 25%, while at the same time agreeing to a 15% tax rate for international companies to be brought in at some time in the future. The US sugested 20% but Sunack and others wanted 15%. By the way this international rate has still to be implemented and given the particular way the UK tax is weighted many companies actually end up paying 26%. Sunack probably had vested interests given his wifes families business, he clearly favoured big business over SMEs as opposed to Osbourne and Hammond before him who gradually reduced it for UK based companies.
It does need sorting as it’s a massive black hole in public finances.
bluethrunthru
Well-Known Member
To be fair that’s one person. Large numbers of farmers aren’t wealthy and make little to no profit
female farmer on our local news just now bleating about the tax. She says if she drops dead tomorrow her kids face a £500k bill - sorry but a day after a report revealed something like one third of adults and half of kids are living in poverty I have no sympathy for someone who has an asset worth at least £3.5m crying about paying tax when that tax is needed to feed kids. Her kids maybe would face a £500k but when if ever did they last go to bed hungry?
bluethrunthru
Well-Known Member
the "right" sort of demo?
metalblue
Well-Known Member
If you can come up with a way of making these global companies pay their tax due in each of the countries they do business in, there will be around 200 countries waiting to implement your rules.
Pillar 2 is the next step in this. They are working on it.
metalblue
Well-Known Member
Pleased we have finally established that the issue is not the IHT but the potential threshold. Proposed threshold is £1m and the IHT rate is 20% above that figure (note threshold could be as high as £3m for a couple taking into account other allowances).
The average farm is worth around £2m (below the potential £3m threshold). Most farms are worth less than that. So, here’s the deal. Raise the threshold to £1.5m and increase the payment window to 15 years from 10 years.
That way we can fuck wealthy cunts and leave poor old Farmer Ted alone, or at worst with a reduced bill.
Sounds like a winner to me.
It’s not the threshold. It’s the affordability of it for those that have to pay it. They don’t earn enough to mortgage the land to pay for it. That’s where the anger is coming from.
Alan Harper's Tash
Well-Known Member
- Joined
- 12 Dec 2010
- Messages
- 59,831
Then working tax credits need to go too.Pillar 2 is the next step in this. They are working on it.
I don't really have an informed decision on all this farmer issue, but I do know that many are skint.Farmers where an endangered species back in 2016 for them.
These days they’re seemingly the enemy.
I keep hearing the phrase “rich farmers” which is a bit of a major giveaway for our class warriors I’m afraid.
My ex husband's bachelor Uncle was a farmer. Worked every single day of his life from taking over the farm in 1964 until his death (aged 82) in 2009. Never had a days holiday in that time, ever.
The farmhouse was falling down around him in the last few years and my ex went every weekend (from about 1988) to help him with the heavier stuff around the farm.
Geoff loved that farm, to the point that when he was on the point of death at Rochdale Infirmary (prostate cancer) he insisted on going "home."
We got him there and he died within 10 mins. Even now it upsets me to remember it.
I think I'm just saying that not all farmers are cash rich.