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Home Business News Clarkson set to join thousands of farmers at London rally over Labour’s inheritance tax change

Clarkson set to join thousands of farmers at London rally over Labour’s inheritance tax change

18th Nov 24 2:06 pm

The star of Clarksonโ€™s Farm, Jeremy Clarkson who has been a vocal critic of the Chancellorโ€™s plans to raise inheritance tax for farmers is in talks with organisers to give a speech at a demonstration over the new โ€œtractor tax.โ€

On Tuesday farming leaders and thousands of farmers will proceed to Parliament Square, they have been told not to bring their farming machinery for the protest.

Writing in The Sun Clarkson slammed the inheritance tax extension proposed by Chancellor during her Autumn Budget on 30 October.

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The former Top Gear star wrote, โ€œIโ€™m becoming more and more convinced that Starmer and Reeves have a sinister plan.

โ€œThey want to carpet bomb our farmland with new towns for immigrants and net zero wind farms.

โ€œBut before they can do that, they have to ethnically cleanse the countryside of farmers.

โ€œThatโ€™s why they had a Budget which makes farming nigh on impossible.โ€

โ€œI think the industry is feeling betrayed, feeling angry,โ€ National Farmersโ€™ Union President Tom Bradshaw said.

Bradbury told Sky Newsโ€™ Sunday Morning with Trevor Phillips, โ€œWe have a Government saying food security is a critical part of national security, yet theyโ€™ve ripped the rug out from that very industry which is going to invest in food security for the future.โ€

The Prime Minister Keir Starmer has said he is โ€œabsolutely confidentโ€ the โ€œvast majority of farms and farmersโ€ wonโ€™t be affected by the Chancellorโ€™s plans.

The Standard reported, Starmer said, โ€œObviously, thereโ€™s an issue around inheritance tax and I do understand the concern.

โ€œBut for a typical case, which is parents with a farm they want to pass on to one of their children, by the time youโ€™ve taken into account not only the exemption for the farm property itself, but also the exemption for spouse to spouse, then parent to child, itโ€™s ยฃ3 million before any inheritance tax will be payable.

โ€œThatโ€™s why I am absolutely confident the vast majority of farms and farmers will not be affected by this.โ€

During her Budget Rachel Reeves said, โ€œWe will reform agricultural property relief and business relief from April 2026; the first ยฃ1 million of combined business and agricultural assets will continue to attract no inheritance tax at all.

โ€œBut for assets over ยฃ1 million, inheritance tax will apply with a 50% relief and at an effective rate of 20%.

โ€œThis will ensure we continue to protect small family farms with three-quarters of claims unaffected by these changes.โ€

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