The continued illegality of cannabis in the UK is absolutely insane, especially considering the benefits legalisation would have. As someone raised in the UK and now living in Canada, I’ve seen firsthand the economic and societal advantages of legalisation. The UK is the largest producer of medical cannabis in the world, yet it’s still illegal to sell. Selling cannabis would generate up to £8.5 billion annually in tax revenue, create thousands of jobs, and significantly reduce the prison population. Legalisation would also disrupt organised crime, redirect millions away from gangs, and prevent young people from receiving life-altering criminal records for minor infractions. While concerns about mental health impacts are valid, they need to be addressed with education and regulation not prohibition. We’ve seen the impact of prohibition has had it doesn’t work people still do it regardless. Alcohol, which is legal and widely used even has had a tax cut has far greater negative effects on health and society costing the NHS billions. By contrast, cannabis legalisation in Canada and parts of the U.S. has demonstrated that the benefits, including reduced crime and increased public funds, outweigh the risks. It’s time for the UK to have a sensible, evidence-based conversation about cannabis reform, rather than clinging to outdated rhetoric
tbf, its not that is A) hard to buy B) expensive C) aggressively policed. It may be take off you in town, if caught smoking publicly, but that can happen with booze too.
@@tisFrancesfault Again you're in a cost of living crisis and looking for ways of making money there's '£25 billion black hole' they keep going on about and they could get most of it back within 4 years of legislation. It would reduce the amount of alcohol-related deaths as many would use it instead of alcohol this is evidenced in both Canada and the USA where its leglised. People would be safer because they would know what they are getting, pohabition never works it just creates a black market. Gangs get richer the country gets poorer, they're going to leglise it in the next 10 years anyway why not start the process now.
@@tme03I say this with absolutely no skin in the game, France. If you wish to offer an alternative view, it would serve you well to do some research beforehand.
Firstly, the lady farmer was married so it would be over 3 mill before IHT. Secondly, 30 grand a year with probably no mortgage on dwelling, ain't too shabby where i am from.
Except when one considers costs, and viability of incomes. Renovations, maintenance, new* equipment, bad harvests etc all eat into that. And many small holdings don't generate such sums.
@@tisFrancesfault So nobody else has to crunch these numbers, eh? No, just farms. I understand they produce food etc. as I came from a farm so I understand how you have to crunch big decisions and all that. The issue is that we're all meant to be bending over backwards for farmers that voted not too long ago to destroy their own livelihoods, so I have very little sympathy..
@@TheLukeLambert Oh! so you support state of wages, condition and affordability in the UK? Not a great position to hold but fair enough. Personally I do support the improvement of QoL and wages, and general affordability unlike yourself.
Ava asks why no one is talking about why farming pays so badly. The answer is clearly because they and the NFU are all shouting and protesting about their assets and not protesting about how little reimbursement they receive for their work. The assets seem to be far more important than the profits to them, which seems bizarre,
Seeing as the law impacts the asset and not the reimbursement, its entirely logical. The price of the goods they produce have very little to do with IHT and to argue about how they are treated by supermarkets etc doesn't address what is wrong with the budget.
No one seems to be pointing out that the vast majority of landowners with estates worth over £1 million are not farmers but Lords , Viscounts, House building & energy companies..oh and the Royal Family !
Clarkson has a real grudge against the BBC. Pretty odd considering how rich he got off them. Is he on a Russell Brand trajectory with his pretty anti reality narrative.
No one seems to be addressing the fact that allowing the tax-relief bids up the price of agricultural land because of its tax-dodging value to the obscenely wealthy. So by allowing the tax relief, they ironically force actual farmers to pay the tax they were supposed to be shielded from. If farming is so shit, how are farms worth so much? It isn’t for their farming value, that’s pretty clear from the state the farmers are in.
Exactly I've been saying this to people. Farmland value has shot up because the rich are using it as a financial instrument to avoid tax. By rightfully closing the tax loophole, land value will decrease and so real farmers will then fall below the threshold and no longer owe inheritance tax. I'm surprised Labour haven't said this anywhere.
I lived out in the sticks for years and in my experience farmers are always complaining about being poor and always while driving nearly new Range Rovers. My house overlooked a field of crops and I'd see farm workers in it Maybe 5 or six times the whole year. They would seed it, Spray it a couple of times, Check it as harvest time approached and then one night the Combine and the tractors and trailers would turn up to harvest. I'm sure there were probably a lot of other fields but it looked a lot like the plants grew without a whole heap of attention from the Farmer.
I'm not sure what Ava read on gov.uk that said its 1m. A working farm can claim Agricultural Relief, Business Relief and still benefit from the standard allowance. This means for a single farm owner, that's 3.325m in total tax free.
Which means the smaller farms will hopefully be missed by the change (though it requires all of the criteria being applicable to get the full potential relief), the largest corporately owned farms will be fine because they profit enough, which leaves the majority of farms in the middle who don't make a huge profit and have no means of finding the extra tax without selling off part or all of the farm. This WILL gut the UK farming industry even worse than Brexit did, with the majority of farmland passing hands to the wealthy and corporate interests. They may not be able to use the land to dodge IHT anymore, but if you think they cant find a way to make it profitable then you aren't informed enough to be taking part in the conversation.
@@mynewcolour They absolutely can claim both as well as the standard allowance. hell, it would actually be up 3.5m if they pass the buildings on to a direct descendant.
Appaling to hear Farage (ex-city trader) say that he can't imagine why farming is under threat - pretending ignorance of the impact of his beloved Brexit. Clarkson says putting his assets into a Trust is immensely time consuming and questions why people should do that. What utter nonsense!
Well it's one of the few hard core Tory unions. (Never been a Labour union it's always supported the Tories) The Tories also have the 1922 Committee, the Tory MPs own union.
Australia actually produces lamb cheaper because unlike the UK where animals have restricted movement and need to be kept indoors and warmed and fed dried food during winter, our livestock live outside in the natural environment all year round in most places and are as a result a lot more profitable than British livestock farming. Townies pontificafing about quality of life for animals should pay a visit to Australia sometime. Compare our dairies to the nightmares of shit, piss and concrete pens that UK cows live in for half the year or more and you would be pleasantly surprised. Our beasts quality of life surpass yours by a mile. Again our meat and dairy is cheaper to produce as our animals can happily live on grass outside for most or all of the year in many parts of the country. No electricity for heating no gross pens to live in and fewer health issues.
Someone will have to explain to me how Judith's farm is going to be decimated by inheritance tax and not the loans she's leveraged against the land. Won't the banks want that money back at some point?
@itscomingyourway Cheers, I don't know enough about banking loans in this sort of situation. Won't the loans need to be paid when the estate gets settled after her death?
@@rononel8046 Her children will inherit the debt as well that yes cld be settled by forfitting the asset and thus lose the farm, or they inherit the assets and debt and increases the loans to cover the inheritance tax (that with benefits most likely wont effect her even as a single farmer). But inflation of land value will likely cover the interest payments and they just say in debt forever, the only winner is the bank. But capatalism is a ponzi scheme dont think about it too hard it will only anger you :)
60% of farmers have less than 50ha (123 acres of land). To own 1m of land for someone with 123 acres would mean a price per acre of 8k. Yes there is equipment on top of that. Some sources say average price per acre is about 12k. Hard to know which figures to trust. At 12k an acre to avoid inheritance tax you'd need to have 83 acres of less for a single unmarried individual. Does seem like a lot of noise being made on behalf of somewhat wealthier landowners for the most part.
If inflation is going up by 3% but pay is going up above inflation, then British Workers are still better off than they were last year aren't they? Or am I missing something here?
Firstly pay hasn't been matching inflation for quite some time, just edging ahead now doesn't count for much. Secondly, the changes to employers NI contributions is likely to kill that wage growth dead when employers are looking at a 10-20% increase in wage bill. Could be worse right now of course but it seems unlikely to continue to improve.
It will make farming a more expensive industry - if you tax an industry, it will make it more expensive. So, food prices will go up. And that will hit the poorest most.
Oli's disembodied floating head sure is an interesting change in the format. EDIT - genuinely, they either need to remove that mic from the dispatch box and set it overhead, or they need to implement a house of commons rule not to bang the lectern. Genuinely felt nauseous at points listening on headphones.
His example farm is nowhere near average. The average value farm is below the threshold, and that's despite the average being pushed upward by monopolist superfarms and land-banking tax avoiders. The median sized farm (i.e. the 50th %ile) is a quarter of that average. Rayner is correct, most farms will pay nothing. The people protesting are non-farming tax avoiders, or genuine farmers who've allowed themselves to be scared by those grifters.
How many of these small farms will stay asset rich when millionaires can no longer park cash in agricultural assets to avoid tax? The real issue here is that farming in the UK for smaller farms doesn't appear to be a viable business, the only thing that keeps them there IS the value of the asset. We need far stronger protections for small farms, successive governments have gone to war with them with Brexit, Green policy and poor trade deals that flood our markets with cheaper, poorly produced products.
Sounds like a great reason to bring farms into public ownership to provide a secure food supply to the people, paid for by the people through taxes .. just a thought
Although it could be a great idea it would go down like a lead balloon, imagine the scenes of every newspaper “CHAIRMAN STARMER IMPOSES COLLECTIVE FARMS ON THE MASSES” 😂
If my father had a 3 million non-farming business with lots of assets and wanted me to take it over when he retired, would I be liable to pay any tax to take control? Genuinely don't know the answer.
From a guy from the states - I shall look into what village means when used as an adjective (if I heard that correctly). If you listen to these TH-cam broadcasts while doing other things as if they were available only via audio, it's irrelevant whether notes are used . I think Ms. Raynor handles Parliamentary debates really well and I'm a fan. I think UK voters are fortunate to have positions in government ministries filled by MPs (and some in House of Lords) to the extent that the UK seems to have.
The food security argument is a non-starter. Ukraine has produced 90% of it’s food since forever and exports a huge quantity. We produce ~ 50% of what we consume.
I try to watch these podcasts, but everytime I do I end up switching off, because rather than having a genuine discussion and making good points (not all agreeable - which is totally fine), they're more interested in having shits and giggles. Which is a shame, reflects badly on their generation and why no one is interested in making policies that appeal to this generation because no one apparently gives a shit
FYI, retail banking includes cashiers, commercial banking normally involves driving around building business plans to assist business owners getting loans...
This is more about the market for goods that farmers provide being undermined by massive companies dictating prices, Brexit ending EU subsidies, and the Tories selling farmers down the river. Maybe if the richest 1% who own 50% of the country, and the Royals paying their way and taxes, would reduce such a dire situation. Charles gets property in some areas of the uk whenever a person dies without inheritors. That is a crime. Literally owns properties of dead soldiers from WWI and WWII when they had no family.
Why can't they set an amount or percentage of produce that must be sold and if you're not actually producing anything and just using owning a farm for tax avoidance then you have to pay the inheritance tax, and whack it up to the full 40%.
I hate the way small farmers are being lied to by those with more substantial land, and used to argue against this when the small farmers are exactly who this is designed to help. Those like Clarkson and Dyson have pushed up the land values while trying to avoid tax and this is an attempt to redress that. (I hate that this has made me defend Starmer and Reeves when I'm unhappy with many other things they're doing). This is a distraction from more important issues because it will tax people with power and, unlike many without, they have the ability to make themselves heard. The woman in that clip runs her farm with her husband. They own about 600 acres over more than one location, a farm shop and a cafe. That is not really small. Farmers still get the standard exemption on their estate and their property that anyone else would, plus the £1m for the farmland. That is a total of £1.5 per person (£3m for a couple). If they live on their land, the value of that land will include the farmhouse. Anyone paying a regular size mortgage on regular size salary is also not in the black, but they don't have the ability to borrow against a valuable asset that's been in their family for decades and use that to invest in their business. Nor do they get to pay their tax bill at half rate over 10 years, interest free. This country has been a net importer of food for two centuries - it's not new! Our farmers are not the only ones feeding this country. Maybe we should take a closer look at countries (like France) who are actually self-sustaining and try to learn, particularly with the ever worsening climate crisis, how we can genuinely improve.
What think really needs to happen is to begin giving farmers UK subsidies, to replace what they got from the EU. And also rebuild trade relationships with the EU to cut the red tape The APR was just the straw that broke the camel's back, it seems
Angela rayner saying it was at 11% is poor from her. She knows full well Rishi brought it down, we’ve just had disinflation stagnate under starmer. Maybe it’s the NI in place
What percentage of farmers employ contractors to plough, cultivate and harvest their crops, owning very expensive machinery for the smaller farms could be well beyond their budget, also having millions of pounds worth of machinery laying idle for many months of the year. At least contracting out the work you know what the costs are going to be . Guy Shrubsoles book Lie of the Land mentions 60% of farms are 123 acres or less, 1% of the population own 50% of the land (25,000 farms, estates or businesses), the damage indusrialised farming is doing to the environment,, speculative ownership of farmland has pushed up land prices,. Many of those big farms and estates can trace their ownership back to William the Conquerer and 1066. 150 estates own land equivalent in size to greater London just for grouse shooting alone !!
The lowering of imported food standards is Tory / orange policy , due to their shit deals and their shit brexit, let’s have it right brexit is not being mentioned during this whole debate when it should be at the forefront of it , it’s disgusting to see Nigel being his usual opportunistic self and taking no blame for any of this , these “genuine grievances “ are on him and other absolute clowns like him
I feel like farming just needs more thought. Common land was once a thing and it benefited people, the idea that you need to be asset rich and tie up all that wealth is the problem here. If the government wants a share of that wealth in order to benefit everyone else then taxing it is the right idea. However we should find a way to throw farmers a bone that isn't detrimental to either them or the wider public.
Maybe greater taxing on the sale of the land? Keeping it for farm - awesome you get a pass. Selling for profit/buying for inheritance purposeless. taxmans comin for you.
So I'm confused. A farmer might own land worth UK2M but they only make an annual profit of UK30k. that's a 1.5% return on assets. That's very low. The farmer could sell their land and invest it in a low risk investment like a US Treasury Bill or a Fidelity diversified current income fund and make 5.5-6% return on assets or roughly UK120,000 a year. They would not have to work at all and yet would make 4x what they made working long hard days. So....what's the problem? Is it the government tax or farmers not facing up to some very simple math and economics?
Hi, random person from Japan here. Best to pronounce it Sep-puku, as there is a little gap in there. Or Se-Puku, or Hara-Kiri (rolled R). You can get on with your day, now.
Channel 4 said that any farms owned by a single individual also get the 500k inheritance tax free allowamce, so it would only estates worth over £1.5 million that would be affected. This is doubled for estates owned by couples, so £3 million
What-o! What a brilliant joke from the tory minister. You can tell it's funny because the tories laughed. 🙄 Also nice to see the mega-rich and right wing pols glomming onto this like they give an actual shit beyond the inheritence tax they don't want to pay.
Hard disagree with Oli here, Raynor was absolutely fine but Burghart came off unhinged and is clearly just slamming the vibes based talking points. Unfortunately a strategy that has proven to be quite effective, we need not give it undue credit by trying to be fair to both sides Oli - they will not give us the same charitability.
If you have never made any money out of running a farm since 1989 then you dont own a farm, the bank owns the farm and your living from a bank loan secured against the inflating land values.... Or you are lying.
Not quite. A lot of things can be too expensive to buy outright, so debt is required to finance things like new equipment. No different to mortgages, except it's productive debt. But debt regardless.
@tisFrancesfault I know that but at the end of the day finance companies will want their money back. If the farmer dies with outstanding debt they'll be seeking to recoup that debt, surely?
@@tisFrancesfault Nah, so farms will incorporate in exchange for a directors loan and then give that loan away to their kids - thus not making a disposal for CGT and also making their estate worthless... They'll stop the kids calling it in by making the repayment schedule the responsibility of the directors, which will be the kids when they inherit...
Think you've got the clarkson and woman farmer clips in the wrong place.
Made it funny how mismatched they were to Ava's sentences though.
Amateurish tbh
Also very comfused - Ava says Judith is single and thus will be affected, Judith then goes on to talk about her husband?
I do enjoy Clarkson getting exasperated at having his exact words quoted at him.
The sheer petulance in his reaction is priceless, it really exposes him for the self-interested diva that he is.
Clarkson for PM
Day 75 of asking for a production team microphone. Surely this is spam by now ...
You're referenced at 48:20 so you're getting to them slowly but surely 😂
@@Munkenba ❤️❤️❤️
Reported 😜
Just listened to the moment you're mentioned and found your comment at yhe same time 😂
For those struggling to find Ed saying he doesn't like women it's 34:40
The continued illegality of cannabis in the UK is absolutely insane, especially considering the benefits legalisation would have. As someone raised in the UK and now living in Canada, I’ve seen firsthand the economic and societal advantages of legalisation. The UK is the largest producer of medical cannabis in the world, yet it’s still illegal to sell. Selling cannabis would generate up to £8.5 billion annually in tax revenue, create thousands of jobs, and significantly reduce the prison population. Legalisation would also disrupt organised crime, redirect millions away from gangs, and prevent young people from receiving life-altering criminal records for minor infractions.
While concerns about mental health impacts are valid, they need to be addressed with education and regulation not prohibition. We’ve seen the impact of prohibition has had it doesn’t work people still do it regardless. Alcohol, which is legal and widely used even has had a tax cut has far greater negative effects on health and society costing the NHS billions. By contrast, cannabis legalisation in Canada and parts of the U.S. has demonstrated that the benefits, including reduced crime and increased public funds, outweigh the risks. It’s time for the UK to have a sensible, evidence-based conversation about cannabis reform, rather than clinging to outdated rhetoric
tbf, its not that is A) hard to buy B) expensive C) aggressively policed. It may be take off you in town, if caught smoking publicly, but that can happen with booze too.
@@tisFrancesfault Again you're in a cost of living crisis and looking for ways of making money there's '£25 billion black hole' they keep going on about and they could get most of it back within 4 years of legislation. It would reduce the amount of alcohol-related deaths as many would use it instead of alcohol this is evidenced in both Canada and the USA where its leglised. People would be safer because they would know what they are getting, pohabition never works it just creates a black market. Gangs get richer the country gets poorer, they're going to leglise it in the next 10 years anyway why not start the process now.
No tax on medical herbs.
@@tisFrancesfault None of these points are arguments against the orginal comment though, it would still be massively benneficial to legalise it.
@@calumbell2276 Indeed not.
Wouldn’t farmers be better served campaigning to rejoin the EU , get some of those subsidies back
Or, have actual UK equivalents
Don't see EU farmers protesting do you🙄
@@tme03I say this with absolutely no skin in the game, France.
If you wish to offer an alternative view, it would serve you well to do some research beforehand.
@@tme03 Well done for showing everyone that you don't have a single clue on current events looooool
Firstly, the lady farmer was married so it would be over 3 mill before IHT. Secondly, 30 grand a year with probably no mortgage on dwelling, ain't too shabby where i am from.
Except when one considers costs, and viability of incomes. Renovations, maintenance, new* equipment, bad harvests etc all eat into that. And many small holdings don't generate such sums.
@@tisFrancesfault So nobody else has to crunch these numbers, eh? No, just farms. I understand they produce food etc. as I came from a farm so I understand how you have to crunch big decisions and all that. The issue is that we're all meant to be bending over backwards for farmers that voted not too long ago to destroy their own livelihoods, so I have very little sympathy..
@@TheLukeLambert Oh! so you support state of wages, condition and affordability in the UK? Not a great position to hold but fair enough. Personally I do support the improvement of QoL and wages, and general affordability unlike yourself.
@@TheLukeLambert Nice outright lie about coming from a farm, is this Keir Starmer's burner account? Was your father a toolmaker too?
@@tisFrancesfault The 30 grand would be profit, after expenses are taken out.
Ava asks why no one is talking about why farming pays so badly. The answer is clearly because they and the NFU are all shouting and protesting about their assets and not protesting about how little reimbursement they receive for their work. The assets seem to be far more important than the profits to them, which seems bizarre,
Seeing as the law impacts the asset and not the reimbursement, its entirely logical. The price of the goods they produce have very little to do with IHT and to argue about how they are treated by supermarkets etc doesn't address what is wrong with the budget.
No one seems to be pointing out that the vast majority of landowners with estates worth over £1 million are not farmers but Lords , Viscounts, House building & energy companies..oh and the Royal Family !
We need the 3 more often.
Clarkson has a real grudge against the BBC. Pretty odd considering how rich he got off them.
Is he on a Russell Brand trajectory with his pretty anti reality narrative.
only a few steps away from full on right wing grift.
Top Gear with the boys would probably still be on TV right now, if not for a cold meat platter for dindins
+++
i fear hes more on the donald trump trajectory :(
BBC are literally tax payer funded biased media, basically state funded media.
Farmer Judith talks a lot about her husband in that clip so she’s not single. Doesn’t that mean they’re exempt up to £3M as a couple rather than £1M?
"is he brat?" KILLED me
Impeccable timing by Ava
No one seems to be addressing the fact that allowing the tax-relief bids up the price of agricultural land because of its tax-dodging value to the obscenely wealthy.
So by allowing the tax relief, they ironically force actual farmers to pay the tax they were supposed to be shielded from.
If farming is so shit, how are farms worth so much? It isn’t for their farming value, that’s pretty clear from the state the farmers are in.
Exactly I've been saying this to people. Farmland value has shot up because the rich are using it as a financial instrument to avoid tax. By rightfully closing the tax loophole, land value will decrease and so real farmers will then fall below the threshold and no longer owe inheritance tax. I'm surprised Labour haven't said this anywhere.
I lived out in the sticks for years and in my experience farmers are always complaining about being poor and always while driving nearly new Range Rovers. My house overlooked a field of crops and I'd see farm workers in it Maybe 5 or six times the whole year. They would seed it, Spray it a couple of times, Check it as harvest time approached and then one night the Combine and the tractors and trailers would turn up to harvest.
I'm sure there were probably a lot of other fields but it looked a lot like the plants grew without a whole heap of attention from the Farmer.
@@acolyte10mgLand value will never decrease, they ain’t making more of it, especially on an island.
Richard Murphy is saying exactly this.
@@acolyte10mg They have left the loopholes unaffected, so the people that pay are legacy owners not speculators.
I'm not sure what Ava read on gov.uk that said its 1m. A working farm can claim Agricultural Relief, Business Relief and still benefit from the standard allowance. This means for a single farm owner, that's 3.325m in total tax free.
This story really shows that the modern left are ardent urbanite capitalists too, after all...
I think they can claim one or the other (not both).
A single farm owner can only pass down 1m, pretty sure
A couple who own a farm can pass down 3m
Which means the smaller farms will hopefully be missed by the change (though it requires all of the criteria being applicable to get the full potential relief), the largest corporately owned farms will be fine because they profit enough, which leaves the majority of farms in the middle who don't make a huge profit and have no means of finding the extra tax without selling off part or all of the farm.
This WILL gut the UK farming industry even worse than Brexit did, with the majority of farmland passing hands to the wealthy and corporate interests. They may not be able to use the land to dodge IHT anymore, but if you think they cant find a way to make it profitable then you aren't informed enough to be taking part in the conversation.
@@mynewcolour They absolutely can claim both as well as the standard allowance. hell, it would actually be up 3.5m if they pass the buildings on to a direct descendant.
Appaling to hear Farage (ex-city trader) say that he can't imagine why farming is under threat - pretending ignorance of the impact of his beloved Brexit. Clarkson says putting his assets into a Trust is immensely time consuming and questions why people should do that. What utter nonsense!
2 of your clips are the wrong way round at the 17 min mark to 19 min. Just thought id let you know if you can edit and switch around
Devilman reference in poljoe is unexpected for sure, banger though lmao
Its funny how the Tories hate unions until its the NFU.
Well it's one of the few hard core Tory unions. (Never been a Labour union it's always supported the Tories)
The Tories also have the 1922 Committee, the Tory MPs own union.
Australia actually produces lamb cheaper because unlike the UK where animals have restricted movement and need to be kept indoors and warmed and fed dried food during winter, our livestock live outside in the natural environment all year round in most places and are as a result a lot more profitable than British livestock farming.
Townies pontificafing about quality of life for animals should pay a visit to Australia sometime. Compare our dairies to the nightmares of shit, piss and concrete pens that UK cows live in for half the year or more and you would be pleasantly surprised. Our beasts quality of life surpass yours by a mile.
Again our meat and dairy is cheaper to produce as our animals can happily live on grass outside for most or all of the year in many parts of the country. No electricity for heating no gross pens to live in and fewer health issues.
Someone will have to explain to me how Judith's farm is going to be decimated by inheritance tax and not the loans she's leveraged against the land. Won't the banks want that money back at some point?
Assuming the income covers the interest the loan can be paid indefinitely. Also assuming the land rises in value as well more money can be borrowed
@itscomingyourway Cheers, I don't know enough about banking loans in this sort of situation. Won't the loans need to be paid when the estate gets settled after her death?
@@rononel8046 Her children will inherit the debt as well that yes cld be settled by forfitting the asset and thus lose the farm, or they inherit the assets and debt and increases the loans to cover the inheritance tax (that with benefits most likely wont effect her even as a single farmer). But inflation of land value will likely cover the interest payments and they just say in debt forever, the only winner is the bank. But capatalism is a ponzi scheme dont think about it too hard it will only anger you :)
This. This is the stuff - best podcast in ages 🤟
Putting cannabis in the title because it was mentioned literally once is peak pol Joe
30.19 😎
60% of farmers have less than 50ha (123 acres of land). To own 1m of land for someone with 123 acres would mean a price per acre of 8k. Yes there is equipment on top of that.
Some sources say average price per acre is about 12k. Hard to know which figures to trust. At 12k an acre to avoid inheritance tax you'd need to have 83 acres of less for a single unmarried individual.
Does seem like a lot of noise being made on behalf of somewhat wealthier landowners for the most part.
That K-Hole bit might have to go down as one of the funniest pod moments of all time
😂 you need to listen to some podcasts
@Norfolkandchance886 obviously referring to just this pod
@@Norfolkandchance886any recommendations?
Oli trying to blend into the background with his camo fleece
If inflation is going up by 3% but pay is going up above inflation, then British Workers are still better off than they were last year aren't they? Or am I missing something here?
Firstly pay hasn't been matching inflation for quite some time, just edging ahead now doesn't count for much. Secondly, the changes to employers NI contributions is likely to kill that wage growth dead when employers are looking at a 10-20% increase in wage bill. Could be worse right now of course but it seems unlikely to continue to improve.
I'm surprised Farage has the nerve to show his face to farmers given the damage Brexit did
They love him. Man of the people is old Nige.
It was HD ready ❤
Wun sen brother
‘It was a porn joke, ed’ you’ve been missed, Ava. And Ollie I guess too
Did not expect Devilman to get a mention in this 😂
It will make farming a more expensive industry - if you tax an industry, it will make it more expensive. So, food prices will go up. And that will hit the poorest most.
Oli's disembodied floating head sure is an interesting change in the format.
EDIT - genuinely, they either need to remove that mic from the dispatch box and set it overhead, or they need to implement a house of commons rule not to bang the lectern. Genuinely felt nauseous at points listening on headphones.
His example farm is nowhere near average.
The average value farm is below the threshold, and that's despite the average being pushed upward by monopolist superfarms and land-banking tax avoiders.
The median sized farm (i.e. the 50th %ile) is a quarter of that average.
Rayner is correct, most farms will pay nothing.
The people protesting are non-farming tax avoiders, or genuine farmers who've allowed themselves to be scared by those grifters.
“… you believe that fleece looks good on you…”
I *CACKLED*
Love the energy of this pod
This one was particularly brilliant, good going guys
How many of these small farms will stay asset rich when millionaires can no longer park cash in agricultural assets to avoid tax? The real issue here is that farming in the UK for smaller farms doesn't appear to be a viable business, the only thing that keeps them there IS the value of the asset. We need far stronger protections for small farms, successive governments have gone to war with them with Brexit, Green policy and poor trade deals that flood our markets with cheaper, poorly produced products.
PETERBOROUGH MENTIONED!!!
Sounds like a great reason to bring farms into public ownership to provide a secure food supply to the people, paid for by the people through taxes .. just a thought
Although it could be a great idea it would go down like a lead balloon, imagine the scenes of every newspaper “CHAIRMAN STARMER IMPOSES COLLECTIVE FARMS ON THE MASSES” 😂
"It was a porn joke Ed" - Ava absolutely pulled his pants down 😭😭😭
If my father had a 3 million non-farming business with lots of assets and wanted me to take it over when he retired, would I be liable to pay any tax to take control? Genuinely don't know the answer.
From a guy from the states - I shall look into what village means when used as an adjective (if I heard that correctly). If you listen to these TH-cam broadcasts while doing other things as if they were available only via audio, it's irrelevant whether notes are used . I think Ms. Raynor handles Parliamentary debates really well and I'm a fan. I think UK voters are fortunate to have positions in government ministries filled by MPs (and some in House of Lords) to the extent that the UK seems to have.
Where did the Tories get him from, he's pretty poor at this? Very shouty and felt like he was trying too hard.
Flubbed the clips, guys -- wrong way round!
Was expecting him start shouting why starmer hasnt invaded poland yet
The food security argument is a non-starter. Ukraine has produced 90% of it’s food since forever and exports a huge quantity. We produce ~ 50% of what we consume.
Anything about cannabis? Any potheads with discipline? Time stamp plz.
Literally just Lee Anderson saying about a pot farm, no discussion or anything, VERY clickbaity.
@ 🍪 your cookie, sir. 👍🍻
I try to watch these podcasts, but everytime I do I end up switching off, because rather than having a genuine discussion and making good points (not all agreeable - which is totally fine), they're more interested in having shits and giggles. Which is a shame, reflects badly on their generation and why no one is interested in making policies that appeal to this generation because no one apparently gives a shit
God I love these people. ❤
Judith let herself go a bit since Monday!!
27:00 weird that Oli went to great length to make *exactly* the same point that Ava had just made
FYI, retail banking includes cashiers, commercial banking normally involves driving around building business plans to assist business owners getting loans...
This is more about the market for goods that farmers provide being undermined by massive companies dictating prices, Brexit ending EU subsidies, and the Tories selling farmers down the river. Maybe if the richest 1% who own 50% of the country, and the Royals paying their way and taxes, would reduce such a dire situation. Charles gets property in some areas of the uk whenever a person dies without inheritors. That is a crime. Literally owns properties of dead soldiers from WWI and WWII when they had no family.
It's a porn joke, Ed
"So are you, Ava"
ba-dum-tshhh
Remember to report spam comments guys:/
Farmers should make the animal welfare a selling point.. advertise that it's the most ethically sourced meat in the world.
The first 3 and a half minutes is now with H.R.
Who's that third host in the middle?
Looks familiar.. Reform MP maybe? I know Ava has been keen to get them on for some time
he seems to have a good relation with the usual hosts. Maybe a friend of the podcast?
Why can't they set an amount or percentage of produce that must be sold and if you're not actually producing anything and just using owning a farm for tax avoidance then you have to pay the inheritance tax, and whack it up to the full 40%.
I hate the way small farmers are being lied to by those with more substantial land, and used to argue against this when the small farmers are exactly who this is designed to help. Those like Clarkson and Dyson have pushed up the land values while trying to avoid tax and this is an attempt to redress that. (I hate that this has made me defend Starmer and Reeves when I'm unhappy with many other things they're doing). This is a distraction from more important issues because it will tax people with power and, unlike many without, they have the ability to make themselves heard.
The woman in that clip runs her farm with her husband. They own about 600 acres over more than one location, a farm shop and a cafe. That is not really small. Farmers still get the standard exemption on their estate and their property that anyone else would, plus the £1m for the farmland. That is a total of £1.5 per person (£3m for a couple). If they live on their land, the value of that land will include the farmhouse. Anyone paying a regular size mortgage on regular size salary is also not in the black, but they don't have the ability to borrow against a valuable asset that's been in their family for decades and use that to invest in their business. Nor do they get to pay their tax bill at half rate over 10 years, interest free.
This country has been a net importer of food for two centuries - it's not new! Our farmers are not the only ones feeding this country. Maybe we should take a closer look at countries (like France) who are actually self-sustaining and try to learn, particularly with the ever worsening climate crisis, how we can genuinely improve.
What think really needs to happen is to begin giving farmers UK subsidies, to replace what they got from the EU. And also rebuild trade relationships with the EU to cut the red tape
The APR was just the straw that broke the camel's back, it seems
They are doing ' have i got PMQs for you '
20:43 'i farm my 5000 acres'. No you fucking dont. You own the land and get an actual farmer, to farm it!
Angela rayner saying it was at 11% is poor from her. She knows full well Rishi brought it down, we’ve just had disinflation stagnate under starmer. Maybe it’s the NI in place
You got the two Clips Ava was speaking out between 16 odd mins and 20 mins swapped
'Passionate lover of the countryside' ALW rocking the cruel Canada Goose jacket in a mild British winter
Don't Canada Goose only now use recycled fur, if at all ? Think they've done so for the past few years.
What percentage of farmers employ contractors to plough, cultivate and harvest their crops, owning very expensive machinery for the smaller farms could be well beyond their budget, also having millions of pounds worth of machinery laying idle for many months of the year. At least contracting out the work you know what the costs are going to be .
Guy Shrubsoles book Lie of the Land mentions 60% of farms are 123 acres or less, 1% of the population own 50% of the land (25,000 farms, estates or businesses), the damage indusrialised farming is doing to the environment,, speculative ownership of farmland has pushed up land prices,. Many of those big farms and estates can trace their ownership back to William the Conquerer and 1066. 150 estates own land equivalent in size to greater London just for grouse shooting alone !!
Richard J Murphy nailed the farming inheritance tax
@aredman2600 didn't say he was
55:33 Finally! Someone said it
Love the way Clarkson pivots and blames BBC for his inheritance tax comments. Didn't the BBC make him famous?
The lowering of imported food standards is Tory / orange policy , due to their shit deals and their shit brexit, let’s have it right brexit is not being mentioned during this whole debate when it should be at the forefront of it , it’s disgusting to see Nigel being his usual opportunistic self and taking no blame for any of this , these “genuine grievances “ are on him and other absolute clowns like him
STOP THE TOFFS!
Glad to have the gang back
I feel like farming just needs more thought. Common land was once a thing and it benefited people, the idea that you need to be asset rich and tie up all that wealth is the problem here. If the government wants a share of that wealth in order to benefit everyone else then taxing it is the right idea. However we should find a way to throw farmers a bone that isn't detrimental to either them or the wider public.
Funniest one in ages. Probably the misogyny
Maybe greater taxing on the sale of the land? Keeping it for farm - awesome you get a pass. Selling for profit/buying for inheritance purposeless. taxmans comin for you.
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4th/5th generation farmer so 3rd/4th generation didn’t pay a bean in IHT. Keep digging lady.
Why are the 3 of them not outfitted in Barbour jackets. Surely if everyone else is doing farmer cosplay they could join jn?
I adore the jubilant pro-catholic bigotry ❤ cracking ep, plus the horse related shenanigans earlier in the week were excellent
Grovenors son, the Duke of Westminster inherited £9 billion worth of land and property and avoided paying inheritance tax. That's just not right.
So I'm confused. A farmer might own land worth UK2M but they only make an annual profit of UK30k. that's a 1.5% return on assets. That's very low. The farmer could sell their land and invest it in a low risk investment like a US Treasury Bill or a Fidelity diversified current income fund and make 5.5-6% return on assets or roughly UK120,000 a year. They would not have to work at all and yet would make 4x what they made working long hard days. So....what's the problem? Is it the government tax or farmers not facing up to some very simple math and economics?
Hi, random person from Japan here. Best to pronounce it Sep-puku, as there is a little gap in there. Or Se-Puku, or Hara-Kiri (rolled R).
You can get on with your day, now.
Channel 4 said that any farms owned by a single individual also get the 500k inheritance tax free allowamce, so it would only estates worth over £1.5 million that would be affected. This is doubled for estates owned by couples, so £3 million
After that display was stolen from the Green co-leader during the election debate… sorry I can’t remember her name but she is in the Bristol area…
Andrew Lloyd Webber only ever shows his face when policy threatens to nibble at his vast wealth. He doesn't give a fig about anyone else
What-o! What a brilliant joke from the tory minister. You can tell it's funny because the tories laughed. 🙄 Also nice to see the mega-rich and right wing pols glomming onto this like they give an actual shit beyond the inheritence tax they don't want to pay.
someone got the clarkson and farmer clips the wrong way round.
boy, i sure hope somebody was fired for _that_ blunder!
Hard disagree with Oli here, Raynor was absolutely fine but Burghart came off unhinged and is clearly just slamming the vibes based talking points. Unfortunately a strategy that has proven to be quite effective, we need not give it undue credit by trying to be fair to both sides Oli - they will not give us the same charitability.
If you have never made any money out of running a farm since 1989 then you dont own a farm, the bank owns the farm and your living from a bank loan secured against the inflating land values.... Or you are lying.
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Strong contender for least intelligent comment on the video, good work
I am confused/not informed enough to understand why nothing can be done to force supermarkets to pay farmers fairer for their goods?
Ava could be that first female remform MP!
The Production Microphone guy shoutout!
Question: Does the speaker have the power to force them to actually answer a question instead of dodging it?
Sadly, no. Which is absolute bollocks.
Going off the last 14 years... No.
@@gazzofdoom PMQ is more an opportunity for MPs to show off their razor sharp wits and for the rest of us to scope out the current parliamentary vibes
Hypothetically, but no speaker has ever really tried to enforce their true power.
Oli dropping Devilman bars is 🤌
If your farm survives on borrowed money, when you die your assets will be seized to pay off your debts, surely? Ergo, nothing to inherit ...
Not quite. A lot of things can be too expensive to buy outright, so debt is required to finance things like new equipment. No different to mortgages, except it's productive debt. But debt regardless.
@tisFrancesfault I know that but at the end of the day finance companies will want their money back. If the farmer dies with outstanding debt they'll be seeking to recoup that debt, surely?
@@tisFrancesfault Nah, so farms will incorporate in exchange for a directors loan and then give that loan away to their kids - thus not making a disposal for CGT and also making their estate worthless... They'll stop the kids calling it in by making the repayment schedule the responsibility of the directors, which will be the kids when they inherit...
I'm here for the devilman references
Nigel the opportunist
Rayner is completely incompetent and un qualified
It turns out Starmer's dad just worked in B&Q