By GB News (World News) | Created at 2024-11-19 11:06:28 | Updated at 2024-11-24 04:36:40
4 days ago
Labour is "heading for a class war like we had with Margaret Thatcher," Welsh chairman of the Conservative Rural Forum, Aled Thomas has claimed.
His comments come as farmers descend on London to protest against Labour's controversial inheritance tax changes.
The National Farmers' Union (NFU) has mobilised 1,800 of its members - triple the original number planned - for a mass lobby of MPs to oppose the new tax measures.
Speaking to GB News, Thomas said: "Farmers have seen this all before in Wales, for starters. And I think it's those farmers who are perhaps the most frustrated, because they've seen this six, seven months ago with damaging policies that Labour brought in at the Senedd. Around 5,500 jobs would be cut.
"They're not quite clear on their own figures first so we need to get to that point before any sort of escalations.
“Because, of course, when it does get to striking and withholding, perhaps meat or produce, many farmers working on tight margins probably couldn't afford to do that anyway. So, it's a very difficult point to do that, and it's very strong if they do get to that stage.
“I think there is an absolute chance for a resolution, and tomorrow is the day to make that clear. Do I, in my heart of hearts, think that there's going to be any sort of U-turn? Absolutely not.
“I think this is a purposefully driven policy to drive division between the rural voter and the urban voter. Labour are out there to shore up that urban vote.
Farmers have shown up in their thousands to protest today
Getty
“This policy actually isn't going to bring much money into the Treasury, realistically. In the grand scheme of things, considering the tax rise that we saw from Rachel Reeves, that half a billion, while a lot of money of course, in general, it's not really that much. It's hardly going to touch the sides and things like the NHS budget.
“So what we're seeing is that seed of division being sown, shoring up that urban vote and making sure that that class war continues between Labour voters and normal voters.
“I think Margaret Thatcher said many years ago that the left would be happy to see the poor get poorer, as long as the rich don't get any richer. And it’s just echoing that sort of class war coming back once again.”
Under the new rules announced in Labour's October Budget, farms worth over £1 million will face a 20 per cent inheritance tax charge from April 2026, half the standard 40 per cent rate.
Aled Thomas said that the "seeds of division being sown"
GB News
Previously, agricultural assets were entirely exempt from inheritance tax under agricultural property relief.
The Treasury estimates only 500 estates per year will be affected, with just 7% of the wealthiest claimants accounting for 40% of total relief claims.
However, the Country Land and Business Association suggests around 70,000 farms could be impacted, while NFU figures from Defra indicate 49% of farms in England have a net value exceeding £1.5 million.
The government maintains that combining various tax reliefs could allow up to £3 million to be passed on tax-free for farm-owning couples.
