By GB News (Politics) | Created at 2024-11-19 12:47:44 | Updated at 2024-11-22 22:22:12
3 days ago
A heated exchange erupted on GB News as host Andrew Pierce challenged Praful Nargund over disputed inheritance tax figures affecting British farmers.
The row comes at thousands of farmers have taken to the streets to protest the changes that were announced in Rachel Reeves's Autumn Budget.
Praful Nargund from the The Good Growth Foundation told GB News: “The changes to the inheritance tax bill are part of a series of difficult decisions which the government has had to take in order to get the public finances back on a sound footing, and to get money for our NHS and crumbling public services.
“I think it's been quite well trailed that it is targeted at the wealthiest landowners in the farming industry.”
Praful Nargund defended the governments actions
GB News
Andrew Pierce said: “The farmers don't believe the government's figures. And of course this wasn't in any manifesto was it?"
Nargund argued: “Look, the government's figures are that I think it's something like less than 500.”
Andrew fired back: “But I'm just saying to you, all the farmers completely dispute those figures. The gap between the two is so vast, they say thousands and thousands of farms are impacted. The government is saying a maximum of 500. Somebody is not telling the truth.”
Nargund disputed: “Well, look, I read the government figures. They look like they're credible, so I'll stick with them.”
Andrew furiously asked: “Why don't you believe the farmers?”
"You don't seem to know the facts, perhaps you should before you come in here and say you believe the government's figures."
Thousands of farmers are protesting today
Getty
The government maintains that only the 500 wealthiest farm estates in the UK will pay the new tax, with smaller farms "not affected".
Independent tax expert Dan Neidle suggests the number could be as low as 100 farms per year.
However, the National Farmers' Union (NFU) cites Department for Environment, Farming and Rural Affairs figures showing 49 per cent of farms in England had a net value of more than £1.5m.
The Liberal Democrats have called the government's estimate "utter rubbish", suggesting up to 70,000 farms could be impacted.
Andrew Pierce and Praful Nargund entered into a furious debate
GB News
The government insists that combining tax reliefs and exemptions could allow up to £3m to be passed on free of inheritance tax.
From April 2026, agricultural and business assets will only qualify for 100 per cent relief up to £1m per person, beyond the standard nil-rate band of £325,000.
Above the £1m cap, relief will apply at 50 per cent, effectively meaning inheritance tax will be levied at 20 per cent - half the usual 40 per cent rate.
