Governments First Budget

Casdon he has said repeatedly that his income is not reliant on his Farm.

He is very vocal in sticking up for the farming community, and despite people on here being ecstatic about farms paying IHT the majority of working farmers have grave concerns.

Farming is perilous at the best of times, supermarkets screwing them down constantly for the lowest price, this is going to be the straw that breaks many farmers backs.

GrannyGravy13

LizzieDrip

“ Anyone wonder why Clarkson is so annoyed?

He bought the farm specifically to avoid IHT

Oh dear!”

WW that’s made my day🤣🤣🤣 This budget has been worth it just for that!

I wouldn’t get carried away.

Jeremy Clarkson is worth approximately £54 million, he got Diddly Squat Farm for £4.5 million in 2008, so no big deal for him…

I wonder why he doesn’t just shut up then if it’s no big deal to him? Mind, I wonder that whatever he says.

LizzieDrip

“ Anyone wonder why Clarkson is so annoyed?

He bought the farm specifically to avoid IHT

Oh dear!”

WW that’s made my day🤣🤣🤣 This budget has been worth it just for that!

I wouldn’t get carried away.

Jeremy Clarkson is worth approximately £54 million, he got Diddly Squat Farm for £4.5 million in 2008, so no big deal for him…

“ Anyone wonder why Clarkson is so annoyed?

He bought the farm specifically to avoid IHT

Oh dear!”

WW that’s made my day🤣🤣🤣 This budget has been worth it just for that!

Wyllow3

Dinahmo

M0nica I doubt that people buying houses in a new estate want housing association homes adjacent to them. There are examples where affordable houses have been built on the same estate as more expensive ones but those in affordable homes haven't been given access to facilities such as play areas and gardens both of which are locked to prevent unauthorised use.

Those examples are unbelievably shocking to me. Does it really happen?

Assumptions made that people who need housing association accommodation are somehow "Lesser" or "out to cause trouble". People on a low income or have some disability/ special need are we to label them thus?

Yes, it does really happen.

The majority of HAs these days were set up to take over the remaining social housing owned by the local authorities. Smaller associations, often set up for a specific group have been taken over by the larger ones.

Here's the actual figures for Employer's NI:

From April 2025, there will be an increase to the amount of National Insurance (NI) contributions an employer must make. NI Contributions will increase by 1.2% to a total of 15%, and the National Insurance primary threshold - which is when employers begin to pay NI, will be lowered from £9,100 to £5,000.

Although the NI threshold has been lowered, the amount of National Insurance a business can offset will increase as the employment allowance will change from £5,000 to £10,500. The government claims this change to the employment allowance will result in 865,000 employers paying no National Insurance, whilst over 1 million businesses will pay the same amount of National Insurance as the previous year.

For someone earning £40k their employer will pay an extra £480 a year. Hardly a lot.

Surely it's better that the minimum wage has been increased for the lower paid, the young and apprentices.

Dinahmo

M0nica I doubt that people buying houses in a new estate want housing association homes adjacent to them. There are examples where affordable houses have been built on the same estate as more expensive ones but those in affordable homes haven't been given access to facilities such as play areas and gardens both of which are locked to prevent unauthorised use.

Those examples are unbelievably shocking to me. Does it really happen?

Assumptions made that people who need housing association accommodation are somehow "Lesser" or "out to cause trouble". People on a low income or have some disability/ special need are we to label them thus?

M0nica I doubt that people buying houses in a new estate want housing association homes adjacent to them. There are examples where affordable houses have been built on the same estate as more expensive ones but those in affordable homes haven't been given access to facilities such as play areas and gardens both of which are locked to prevent unauthorised use.

Doodledog

Casdon

Ability to build new homes at an affordable rate must vary by Local Authority area Doodledog. Councils generally own land which is redundant which they can build on still, and per council area there are not large numbers of council homes sold annually. Where I live the strategy has been to build more small units of accommodation, and some larger homes that were formerly privately owned that come up for sale have been bought back by the council at full market rate. People do get very attached to their houses, and I think wherever possible they should be enabled to buy them, just my personal view.

That's true about differentials between areas. If they are sold at the going rate for the area it's maybe less of an issue, but I still think that as long as there is homelessness and people struggling on high rents then social housing should stay state owned.

Too many young people are running to stand still because of high rents, and can see no hope of having somewhere with a secure tenancy, never mind something of their own.

When I moved to London back in the 60s I paid one third of my salary in rent. This was a one bedroomed flat for 3 people and the other two were paying the same in rent as I. In fact I also worked some evenings in addition to my full time job in order to have some spending money.

I am aware that rents are now higher but I suspect that generally the accommodation is better now than we had back then.

We did not buy our first home until we were 32 and the deposit was 25%. Not all deposits were that high but we chose to buy an old wreck which lenders weren't so keen on. Half the deposit came from my father because he had just inherited his mother's home and the other half was tax savings because we were both self employed. I can't remember how I managed to pay my tax.

It’s a start at least.Something at least is being done to improve the lot of ordinary people.Let’s wait and see but it has to be better than the nonaction and chaos of the previous regime.

Casdon

Rosie51

Casdon

Angela Rayner bought her council house before the heavily discounted rate was introduced. People will still be able to buy their council houses under similar terms to hers.

I don't dispute that Casdon, but Greyisnotmycolour, has called TakeThat7 incredibly selfish for wanting to buy her council house. Discounts aside, the taking a council house out of public ownership is exactly the same.

I don’t have a problem with council houses being sold to tenants, if they want to stay in a house that is already their home, fine. However, the house should be sold to them at a price that enables the council to reinvest to build another house for another tenant at an affordable rent.

Unfortunately when Thatcher introduced selling off social housing, she also prevented the councils from building new social housing.

GrannyGravy13

I am totally against IHT, probably the only thing I have in common with Jeremy Clarkson.

No doubt his estimated worth (£54 million) has been taxed at the higher rate whilst working in media, taxing it again on his death (or anyone who’s estate is liable for IHT) is just wrong in my opinion.

(The U.K. is fourth in the world for highest IHT rates)

If the value of land falls it might not be such a smart investment.

fancythat

In the 1970's, many farms were relatively a lot more profitable than they are now.

They were Indeed you could work hard and buy land to expand, despite high interest rates.

I am totally against IHT, probably the only thing I have in common with Jeremy Clarkson.

No doubt his estimated worth (£54 million) has been taxed at the higher rate whilst working in media, taxing it again on his death (or anyone who’s estate is liable for IHT) is just wrong in my opinion.

(The U.K. is fourth in the world for highest IHT rates)

Whitewavemark2

“Detailing his reasons for buying the farm, Clarkson wrote: 'Land is a better investment than any bank can offer. The Government doesn't get any of my money when I die. And the price of the food that I grow can only go up. 'But there is another, much more important reason: I can now have a quad bike.

Thank you 👍

“Detailing his reasons for buying the farm, Clarkson wrote: 'Land is a better investment than any bank can offer. The Government doesn't get any of my money when I die. And the price of the food that I grow can only go up. 'But there is another, much more important reason: I can now have a quad bike.

I dread to think of a world where great swathes of agricultural land are in the hands of the likes of Bill Gates.

Whitewavemark2

Oh just a bit of useless information

Anyone wonder why Clarkson is so annoyed?

He bought the farm specifically to avoid IHT

Oh dear!

Source please Whitewavemark2

Jeremy purchased what is now known as Diddly Squat Farm in 2008 for £4.5 million.

In reality, what may happen for many, is like Jeremy said, farmers will wait 5 years[assuming they are able to] for a supposed different government.

Freya5

GrannyGravy13

Bill Gates and Larry Fink visit Starmer and Reeves days ago.

Gates and Finks are massive buyers of agricultural land…

Yay that's all we need, solar farms and no food. Numpties the lot of them. 😡

Are they the poeple who are pushing for us all to eat insects? Well presumably not themselves of course.

In the 1970's, many farms were relatively a lot more profitable than they are now.

GrannyGravy13

Bill Gates and Larry Fink visit Starmer and Reeves days ago.

Gates and Finks are massive buyers of agricultural land…

Yay that's all we need, solar farms and no food. Numpties the lot of them. 😡

Whitewavemark2 From your quote
Farmers who are youngish (say <70) can buy life insurance to cover the IHT. Won't cost much given the small level of cover required (i.e. for a £2m farm it's £200k IHT max). Under 70 is youngish? Really? What will the premiums be for a now 55 year old who wants to take out insurance to pay out £200,000?

In the 1970s land was valued according to its productive capacity so much lower than today, now it’s the IHT concession that has escalated its value.

Oh just a bit of useless information

Anyone wonder why Clarkson is so annoyed?

He bought the farm specifically to avoid IHT

Oh dear!