Speaking to the biggest losers from the 2024 Labour Budget | The Daily T Podcast
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- เผยแพร่เมื่อ 7 ก.พ. 2025
- Don’t be a worker, don’t have a pension, and certainly don’t be a farmer. The dust has settled after yesterday’s Budget and we’re focusing on some of the major losers from chancellor Rachel Reeves’ big day.
Gordon and Kamal speak to dairy farmer James Robinson and former pensions minister Baroness Ros Altmann about the tax traps hidden in the Budget.
#politics #uk #labour
This clip was taken from the Daily T episode: Budget - who are the biggest losers? - Read and listen to more here: www.telegraph....
Labour see farming as part of the class war.
They who have never done a physically hard job in their lives have no understanding to the hard work done by farmers as small and medium sized businesses owners!
The people who WORK IN AGRICULTURE who support their communities and manage the countryside for ALL UK PEOPLE and had done so for centuries before the interference of the IGNORANT and mega paid LAWYERS of the European Commission
We need to support farmers not destroy them. We need to consume more home grown products and import less. EAT BRITISH .
Get them out of government they are DANGEROUS.
Possible 4000 dead pensioners she is a criminal
Parliament is crime sidicate it's one big club and none of us are a member of the club
Poor little boomers 😂
Absolutely. £22 billion in student loans that rarely get paid back, £11 billion for those who shouldn't be here!! BUT £1.4 billion being taken away from the most vulnerable in society to keep them warm and safe. Shame on them.
They make me feel physically sick
the way they jeered and laughed while she delivered blow after blow! its an insult to hard working pp!
For complex reasons but ultimately costs, my anxiety levels are rocketing to the point whereby I’m wondering how much longer I can survive. And will I be able to sell the house? I can see it being the state versus the people one day.
@@flyhi2773we haven't seen enything yet wait until the coming banking crisis which is going to be 2008 on steroids stock markets are going to fall 80 percent which is going to be 1929 on steroids
She’s totally inept. She has no idea what she’s doing.
She loves her titles. She loves that labour we're elected. She is starmers double.
Listen to Rachel reeves and starmer, they speak exactly the same way. Both are useless.
They both have a most unfortunate way of speaking and I don't just mean the content of what they say. They both have humourless 'comedy' flat tones which reflect their characters. Yuk. They are 'comedy' baddies for real.
The only budget winners were big business such as Blackrock in the background looking to buy up farmland and the bloated civil service which now employs more people than the private sector.
That hasn't aged well. A disgraceful budget from a less than competent Government. I don't see them lasting 5 year's
Let’s hope not
Criminals in power full of hate and darkness for the country
They are just evil
The farmers I know put in a16 hour a day seven days a week,but they obviously aren’t working people.
Everyone works hard not just farmers they should pay inheritance tax on their land just like a family would pay on the sale of their house .
Most of the people who vote Labour are unemployed and don't pay any tax.
@@catherinemartin6258 they can cover their land with solar panels and let us all starve.They would get a knighthood for that.The farmers are one of the most important workers in this country.
70% of farmers will not pay tax
@@shadrana1Blah blah blah, Brexit???? 😂😂😂
A very valid point.& itshould applyto prime ministers as well.
Just as APR makes life difficult for farmers, have a thought for family companies facing the same lethal threat through BPR also becoming IHTaxable. We started with nothing in the 1970s and now employ 180+ people, majority in England and a fledgling operation in America. We founders are in our 80s and now have to find a way out of a massive IHT liability. With this problem, as well as new workers rights legislation plus the uncertainty of what these lying politicians might do in the future, guess where our future expansion will be.
What is guaranteed is that many entrepreneurial businesses will leave Britain and then who will pay for the socialist state this has become.
So sad.
Exactly, bpr changing is even more damaging
The British government spends approximately £8 million per day on housing illegal immigrints in hotels. This amounts to around £2.9 billion per year. £2.9 billion.
Also, this year the British government sent £12.8 billion to ukraine, and has spent £13.3 billion this year on foreign aid.
In total, this is a staggering £29 billion.
This isn't mentioning them shutting down all coal plants, even though most carbon capture and storage (CCS) technologies capture 90% of the carbon dioxide emissions. The transition to net zero will cost £38.5 billion to £76.9 billion per year.
In total, this is a staggering £67.5 billion.
Just does your head in. This Country is truly f--ked
Isn't it more like £10 billion a year on illegal immigrants?
Also check out labours green policies.
Who put those immigrants in hotels ?
its the judges that stop government sending illegals back, border force should go para military and more should go to ukraine and its good farmers pay more
My god, Starmer and Reeves have the most annoying voices ever ! I cant take them seriously...........
Reeves sounds like a Dalek
Bloody Tory’s ⬆️
Yes, we miss those lovely old Etonian accents.
Snobbery a go-go.
They didn't go to private schools either.
Johnson and Cameron (both Eton) and Sunak (Winchester) buggered the economy, not Reeves
They are their own Spitting Image puppets.
What a mess labour are creating
Yes and it is quite deliberate.
Take note this government are rewarding the useless people who voted for them.Reeves is a longer term form of Liz Truss.
They are carrying on from where the tories left off 2 wings of the same bird was what I was saying before the selection election we are an insolvent country debt to GDP 150
And what a bloody mess they inherited.
@@rowancrew2934 no where near as bad as the one they are creating.
No mention of the removal of Pensioner Cost Of Living Payments ,which the DHS told me today was done because there is no longer a Cost of Living crisis. And the removal of a fund to councils to help the most desperate. The Winter Fuel Payments were just the headline
I seriously question this Labour government in terms of their intellect. Are these people experienced enough to lead this country? They seem naive and not professionally mature enough to hold senior leadership positions.
Not fit to work in a corner shop.
WEF. Starmer 'prefers Davos over Westminster' interview with Emily Maitlis.
6th formers playing at Government.....
Both Dead behind the eyes ,Starmer and Reeves both ‘A I ‘ generated WEF robots.
I don't know why anyone would be suprised with a Politician turning around and saying one thing and then doing the very opposite to what they said in the first place. Doesn't matter if it's a Conservative MP or a Labour MP they all do it which is why the UK public is absolutely fed up with the state of Politics in this country. The sad thing about it is the Public have to pick up the pieces from this mess
I had to pay for financial advice to move my pension from DB to a DC one. The primary reason was if I did not use it all the remainder could go to my family tax free. Can I get a refund for bad advice? Can I go back to a DB pension? I have saved diligently and funded my own retirement so hopefully never having to rely on the state what was the point I might as well have blown it all when younger. Now I will be trying to get it out as quickly as I can without paying too much tax. This was not really the aim of a pension fund. I feel betrayed by this labour government who knowingly lied about taxes prior to getting into power. I honestly feel the tax they are raising will get waisted by them too as I do not trust them to boost the economy.
The NHS is a bottomless pit unfortunately.
she making hard working pp who saved pay the price and those on benefits, those on boats, funding wars, is her priority, and borrow at highest levels to fund NHS, so our grandchildren can pay the interest for ever!
Jeapordising uk produced food by taxing farms can only serve a nefarious purpose - this is the most important factor of the century
But we see the likes of Jeremy Clarkson buy a farm for no other reason than avoiding IHT.
not many clarkson’s versus millions of poor hungry population
Not just farmers but all small businesses! fishermen, Shops, hotels, nurseries carers, garages, and builders, all sevice suppers with small employees. This will hold back growth and cost ALL of us more.
They will take our food, water, homes, money and freedom
All part of the plan.
The woman is an absolute liar and an uneducated, ill informed plonker, I am almost lost for words.
The elite need liars to do what they want them to do for them
All political parasites lie this is just the start and we are going to see a global banking crisis which is going to be 2008 on steroids and we are going to see a global stock market melt down which is going to be 1929 on steroids
Farmer James is a very intelligent and well spoken guy.
What a gift the labour cabinet is to spitting image
Who else is watching the Chancellor 1:01 and thinking, jeez, I've been transported back to 1970.
more like 1929 Philip Snowden
Did she study business because if she did she wouldn't have her credit card taken away from her lying toe rag
AND shredded ?
She studied PPE. Basically useless.
She did study economics to be fair.
Starmer laughing throughout questions about how the taxes will affect working people is something that must be picked up on.
No he was laughing at Sunak"s hypocrisy.
Starmer couldn’t give a toss about people, only following his Communist Dogma.
The State is too big and it won't survive at that level.Time will tell.
I’ve never liked her even in opposition
There’s no mess ! there’s no black hole !
There’s an old saying, and she’s full of it!
Labour have certainly proven that they truly could not care less about pensioners did the Tories really look eave the UK finances in such a state or does Starmer have an agenda to finish off the UK elderly and it's economy.
a old proverb....'The society is measured by how it treats its elderly citizens'.
She is a pathological liar obviously.
No farmers no food ie starvation of humans they want
Watch my lips I'm lying lying lying.
Ignore the food producers at your peril. We learned this at the outset of the last war. Then we had rabbits. We do not now. I view the future with some trepidation.
@geoffcollier8736 I view it with great trepidation.
To avoid inheritance tax, move to N.Z.
or Australia 😂
I don’t like the sound of her voice.
She might not like the sound of your voice either. 😂
@@moomin7461and yours 🥴
She and Keir are the embodiment of their own Spitting Image puppets.
Rachel Reeves , biting the hand that feeds , that's crazy surely !
PM and his side kicks are way out of there depths they just haven't got a clue
Ros Altmann has, rightly, just pointed out that the budget's raids on farners' inheritance and unspent SIPPs are, in effect, retrospective taxation.
Spending our money with daft policy's £75 million on a new boat idea.
Glad I never bothered with a pension. Labour hate success and hard work, well they can look after this no hoper in my old age. There’s an elderly gentleman in his late 80s living out of his car in my local car park and he’s always upbeat. I think one day I will take his spot.
Auto enrolment has been a disaster for me. I have had numerous pensions (due to changing my employment agencies, and jobs) and the value of some of them have gone down significantly! I have put money in and the pension providers have taken it out! What a shambles!!
Who is going to gain from the pension changes? Are they trying to ruin everything ?
Wish disabled inheritors were exempt from theft of of pension pot. Wife saved 80% of her modest salary for a disabled son and we lived a frugal life on my pension as a result. That pot will largely be taken away from him though doctors say he will never work. What remains will reduce him to poverty though he will still inherit just enough to be denied benefits.
Socialism doesn’t reward hard working families, it destroys them.
This budget was highly selective in attacking the private sector and families' finances. It emulates Gordon Brown's tax raid in 1997 on company and private pension schemes, with devastating long term effects, whilst public sector pensions were unaffected. The tax raids on farmers' inheritance and unspent private pension funds is, simply, a confiscation of their assets. The remark by the Chief Secretary of the Treasury that people can always take out insurance agaist inheritance tax is just risible. It also has to be pointed out that inheritance tax has to be paid before probate, which entails the sale of other assets or costly bank loans.
They have only increased taxes so they can borrow heavily
Says, "what we need is growth".. then saddles the very people who run businesses, and employ people. And smother growth...
The gaffe at 31 minutes is great lol
What Starmer fails to realise is that society has moved beyond the 1970s. That is the reason why the Labour Party will not survive a second term. Blair's New Labour was a success because he accepted this and did not play fast and loose with other people's money.
Blair destroyed the country with a satanic grin on his face; indoctrination indoctrination indoctrination, immigration immigration immigration, devolution devolution devolution, destruction destruction destruction.
We should start our own currency ready for the big crash.
Where did they get her from she is so out of it GET IN THE REAL WORLD WITH WORKING PEOPLE OR RESIGN
We still need a proper definition of a Working Person from Rachel or Kier .....
Fat chance, he can't or won't even say what a woman is.
@judithcressey1682 very good point
Fibber is an understatement.
No mention of royal s offering to pay same tax as us...again.💙uk
We must all work together to get rid of Starmer who is a liar and cruel
She is a liar
It’s not about winners, losers and division. As a pensioner who is using the nhs more frequently now, I’m pleased that the country is pulling together to get the service back on the rails after the decades of austerity. It’s pleasing to see the country pulling together to achieve such an honourable goal.
The Tories made a mess of public services she says, most Tories in hindsight may agree but from what I remember egged on and rarely critisized by Labour.
Are we all missing something? Are they stupid, lying or do they actually believe what they are saying? I just can’t understand what they are doing…
Inflation will ensue
People need to know that it was only working farmers (farmers who farm the land themselves) who got the full tax relief. Investment companies who owned land who then let the land out only recieved 50% tax relief, labour have put them in the same bracket now.
The discussion on pensions impact was absolutely fascinating. Thanks for doing something a bit more in depth on the topic. Will be very interesting to see what approaches are developed to deal with the massive hit - and also the massive hit to confidence in the entire stability of pension saving.
At least now she's able to work with her own "budget for growth" - """Labour has embarked on a large, sustained increase in spending, tax and borrowing, according to the government’s economic forecaster, as it judged that Labour’s first budget for 15 years is unlikely to increase economic growth over the next five years"""(Office for Budget Responsibility). Well done that woman.
Pension funds and the greedy government who can’t get their sums correct. Looks like buying gold to invest will be another option 😊
Lying liar
too many farms are being bought by non farmers, was a tax
loop hole thats been closed
At what price for the future of family farms & the countryside?
true, absolutely true.
They weren't getting full tax relief because they weren't faming the land themselves, it was only the working farmers getting full tax relief. Labour have killed that.
@@andytg107 good
@@colinrichards3012 well much farming as it is too inefficient, sort that and destroy the sheep industry and get out of lamb meat, should be far far more land not turned over to agric
She is very short sighted
WEF
4:15 I think she sounded petulant and terse. Handling such questions are, and should be, the absolute bread and butter of any would-be Chancellor.
She was possibly beingharrased behind the scenes and if she allowed that to happen she should speak up about it.
Never trust anyone else with your money. Buy gold instead.
Most experts judge that very little growth will come from this budget so why do what she has done
Given the ls that have been used to get power this government should not e allowed to remain.
No one seems to talk about balance of payments. Current account deficit was 3.2% of GDP for the last quarter. As long as this continues the nation will cumulatively get poorer compared to other nations. To counter this we need to encourage primary industries such as farming and oil and gas and private sectors industrial and manufacturing businesses. Increasing NI and expecting firms to absorb this (which they won't) discourages business and will leave the country poorer and more vulnerable. We need a long term plan for the economy which none of the parties seem to interested in. Instead short term decisions are implemented to paper over the cracks.
Love how they forgot to edit the programme.
labour. lets just blame blame blame the concervative party for all our lies as long as we can.
Are the Crown lands falling into this farming inheritance tax?
Dairy Farmers have to be careful not to be kicked by a COW
The farmer has been kicked by a COW from Westminster 😢
Taxing pensions in this way will mean people start to cash in their investments sooner to give the money away - instead of holding it for generations - this will mean billions pulled out of British based equities in panicky selling causing massive instability in the companies and funds
Boy, she’s such a liar
She would say that wouldn’t she,she’s a lying hypocrite
Reeves can’t talk … none of them can, they sound awful…. How did this happen?
Any "consensus" that might have trusted that "the market will provide" might have broken down to the extent that poor regulation (first financial services then private-businesses delivering public services) has demonstrated that we cannot just rely on private businesses to operate safely in our interests.
Also, after the combined shocks of the financial crash (2008), Brexit (after 2016) and COVID (2021), private investors have been unable or unwilling to invest in the UK to the extent needed to innovate, grow businesses and improve productivity.
I would like to see a convincing arguement from the Conservatives that suggests they have any economic or political strategies would be more beneficial to businesses, farming fisheries, manufacturing, services, investors or workers. What have they usefully delivered over 14 years?
She wants to grow the economy by 40 billion tax increase .Makes sence
How on earth does Rachel Reeves think she knows what the ' people ' want ?
As my old boss would say, "chocolate tea pot".
In her reply to the reporter's question she denied she would do exactly what she has done. Total fraud
Am I correct in assuming that the money in most people’s pension pots is invested in the economy to create growth? If so didn’t this Government claim that they would encourage growth? Anyway my wife tells me we’re to enjoy 4 foreign holidays this year paid for by the pension contributions we would have made. “Eat drink and make merry for tomorrow we may die”😂
I just wish they would stop showing her grinning face....
Labour still speak like the opposition. . . They have 5 years and have to change their language to reflect that.
Farmers always claim financial hardship, yet it raises the question: why would someone pay £3 million for a farm yielding only a 1% to 2% profit (£30,000 to £60,000)? This return is hardly an economically viable proposition. It’s unlikely someone would invest £3 million in a farm if it provided only a 1% to 2% profit margin.
They could transfer their farm to relatives at least seven years before they pass away, exempting it from inheritance tax. If they don't like that and the farm is valuable enough they could just put it into a trust; that's how the Duke of Westminster inherited £9 billion without paying any inheritance tax.
The Tories did leave a real mess everything we have has been let go and deteriorated. However now labour are wasting money not catching up on essential improvements and avoiding. Increases in taxes. Net zero stands out. Cancel this until full feasibility studies are completed.
I find her a very harsh woman.
Sorry, why do farmers deserve to pay less tax than my family?
Organic beef farmers are superfood hero’s, leave them alone keep them away from bank ownership. Protect our farming land, keep property funds and solar and wind off our vital farming land.
We all know (well we thought we did)what and who 'working people' are. Starmer's tried to redefine it. Well there was employers National Insurance lets have a go at that. With £40bn tax increases. `he redefined 'working people' it covered everybody. So we are all retired, we can put our feet up in front of the fire for Christmas. But there is no fire and no winter fuel and that how it's going to be for the next 4.75 years. Cold and grey folks. Cold and grey.
There was no explanation on how she is going to grow the economy. Everything depends on her being able to accomplish this. It is not a simple thing to do. Her whole plan is built on this.