By Councillor Pete Lawrence
While some are clapping like seals and ‘taking the win,’ I am not. I see through this ‘ask for 10, get 5’ scam as clear as day. While it is true that with the higher £2.5 million-per-person threshold, smaller farms will be spared this neo-communist ‘redistribution of wealth,’ medium and large-sized operators will not. In fact, any holding over approximately 300 acres will still face the Keir Stalin ‘private equity collectivisation’ treatment (forcing hardworking farming families, who are barely scraping a living, to sell off land to Blackrock et al. to pay large inheritance tax liabilities).
With average arable profits in 2023 coming in at £104 per acre, 366 acres are required to generate a profit equivalent to the national average salary of £38,100. Even using the best-case scenario—a married couple taking advantage of transferable spousal and full nil-rate band allowances—this farm would still face an IHT liability of £150k upon transfer to the next generation. That represents almost four years of total profit.
If we scale up to a medium-sized 500-acre operation (considered by many to be the minimum required to operate a viable arable business these days), annual profitability rises to £52,000, yet the best-case scenario IHT liability hits £470k—over 12 years of profit.
The larger the farm, the worse it gets.
Our national food-producing capability is comprised of small, medium, and large-scale enterprises; all must be protected from the threat of predatory transnational capital, which seeks to profiteer through market manipulation and monopoly. Despite the multi-million-pound Labour media machine spinning this threshold raise as a ‘victory for British agriculture’ and claiming ‘we have listened to the farmers,’ it is quite clear they are still handing the money mafia a free pass. Larry Fink is the only one they can hear.
This ill-thought-out revision of an ill-thought-out change to the IHT framework is nothing more than an attempt to drive a wedge into the British farming community. They hope to see smaller-scale farming families run for safety and ignore the plight of medium-to-large enterprises. Well, we’re having none of it. This Marxist rogue state and the overreach we’ve suffered for the last 12 months have taught us one thing: united we stand, divided we fall. It’s no deal until the threshold protects us all!
This is the action of the worst government in living history running damage control and beating a hasty retreat, and I LOVE IT. Seeing them receive just nine votes (0.7%) in the recent St Columb Minor and Colan by-election had my sides splitting; these uniparty muppets got absolutely pasted at the ballot box by an increasingly based and radicalised electorate.
On a technical note, I personally believe the threshold approach taken by Labour is the correct one to take; IHT should not be abolished for everyone. Rather, it should be used to regulate against monopoly land ownership at the very upper end of the wealth scale. However, the threshold value must protect all sizes of family farms. All holdings under 2,000 acres should be exempt, and a sliding scale of progressive taxation must be in place above this to discourage land banking and monopolisation—activities which ultimately restrict land sales for new entrants or otherwise work against the national interest.
Our message is clear: WE WILL NOT BE DIVIDED AND WILL LEAVE NO MAN BEHIND!
RAISE THE THRESHOLD TO SAVE EVERY HARDWORKING FAMILY FARM AND PROTECT THE NATION FROM MONOPOLY LAND OWNERSHIP THROUGH INHERITANCE TAXATION OF THE SUPER-RICH. UNTIL THEN, WE STAND AS ONE… AND WE WILL FIGHT ON!
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