OT Reeves spring statement

[Geoff Parkstone]

The likes of Clarkson should be excluded from all the tax breaks but since the end of WW2 at least governments have pursued cheap food policies which necessitate subsidies and tax breaks. As the agricultural sector became more globalised and so at the mercy of a wider supply/demand curves for eh what etc this has become difficult to sustain.

However to maintain some form of food independence these breaks have been maintained pre EU, as part of EU and post Brexit in different ways.

The IT rules sought to ensure agriculture remained within families where son took over from father to avoid the creation of bigger agri-units who might kick back against central control or even sale to overseas interests.

So there is sound reasoning for the tax breaks for real farmers. Food is an essential, other key industries were nationalised (govt control of agriculture was augmented by eg potato or milk quotas). You wouldn't expect the same breaks to be given to eg manufacturing of porcelain, jewellery, cars etc as that not an essential lol.

So real farmers I support the breaks, fake ones I don't. I've inherited a piece of the Cotswold but as I don't farm it, I wouldn't expect preferential treatment

[swaledale]

The likes of Clarkson should be excluded from all the tax breaks but since the end of WW2 at least governments have pursued cheap food policies which necessitate subsidies and tax breaks. As the agricultural sector became more globalised and so at the mercy of a wider supply/demand curves for eh what etc this has become difficult to sustain.

However to maintain some form of food independence these breaks have been maintained pre EU, as part of EU and post Brexit in different ways.

The IT rules sought to ensure agriculture remained within families where son took over from father to avoid the creation of bigger agri-units who might kick back against central control or even sale to overseas interests.

So there is sound reasoning for the tax breaks for real farmers. Food is an essential, other key industries were nationalised (govt control of agriculture was augmented by eg potato or milk quotas). You wouldn't expect the same breaks to be given to eg manufacturing of porcelain, jewellery, cars etc as that not an essential lol.

So real farmers I support the breaks, fake ones I don't. I've inherited a piece of the Cotswold but as I don't farm it, I wouldn't expect preferential treatment

Real farmers who have over ?1 million in assets can through early transfer to family members or setting up a trust avoid most of the IHT not forgetting that if they don't take those measures they can pay the IHT over 10 years at 0% interest.

Having a brother who farms who used to before retirement, his main income was government (tax payers) subsidy and yes while it was hard graft, he chose to do it for the way of life rather than any aim to become a multi millionaire.

[ramAnag]

The likes of Clarkson should be excluded from all the tax breaks but since the end of WW2 at least governments have pursued cheap food policies which necessitate subsidies and tax breaks. As the agricultural sector became more globalised and so at the mercy of a wider supply/demand curves for eh what etc this has become difficult to sustain.

However to maintain some form of food independence these breaks have been maintained pre EU, as part of EU and post Brexit in different ways.

The IT rules sought to ensure agriculture remained within families where son took over from father to avoid the creation of bigger agri-units who might kick back against central control or even sale to overseas interests.

So there is sound reasoning for the tax breaks for real farmers. Food is an essential, other key industries were nationalised (govt control of agriculture was augmented by eg potato or milk quotas). You wouldn't expect the same breaks to be given to eg manufacturing of porcelain, jewellery, cars etc as that not an essential lol.

So real farmers I support the breaks, fake ones I don't. I've inherited a piece of the Cotswold but as I don't farm it, I wouldn't expect preferential treatment

Thanks GP. Informed and balanced and perhaps not quite the answer some of those protesting about the new inheritance rules might want.