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Farmers protest as Keir Starmer says he will defend the budget ‘all day long’ (www.theguardian.com)

submitted 3 days ago by [email protected] to c/[email protected]

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Keir Starmer said he would defend the budget “all day long” at the Welsh Labour conference, amid protests by farmers outside the venue.

In his first address to the Welsh Labour conference since taking power, the prime minister went on to hail a “path of change” with Labour governments in Wales and Westminster.

“Make no mistake, I will defend our decisions in the budget all day long,” he said. “I will defend facing up to the harsh light of fiscal reality.

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[–] [email protected] 6 points 2 days ago (1 children)

From April 2026, a 20% tax rate – half the headline inheritance tax rate of 40% – will be applied to the value of farms and businesses worth more than £1m when they are passed on.

I think this is what they are complaining about.

[–] [email protected] 6 points 2 days ago (1 children)

Fuck 'em. That's inheritance.

[–] [email protected] 1 points 1 day ago* (last edited 1 day ago)

These are the rules for normal people..

Inheritance Tax

is a tax on the estate (the property, money and possessions) of someone who’s died.

There’s normally no Inheritance Tax to pay if either:

the value of your estate is below the £325,000 threshold
you leave everything above the £325,000 threshold to your spouse, civil partner, a charity or a community amateur sports club

The standard Inheritance Tax rate is 40%. It’s only charged on the part of your estate that’s above the threshold.

https://www.gov.uk/inheritance-tax

Business Relief for Inheritance Tax

What qualifies for Business Relief

You can get 100% Business Relief on:

a business or interest in a business
shares in an unlisted company

You can get 50% Business Relief on:

shares controlling more than 50% of the voting rights in a listed company
land, buildings or machinery owned by the deceased and used in a business they were a partner in or controlled
land, buildings or machinery used in the business and held in a trust that it has the right to benefit from

You can only get relief if the deceased owned the business or asset for at least 2 years before they died.

https://www.gov.uk/business-relief-inheritance-tax/what-qualifies-for-business-relief