Best Of

I sometimes wonder if the fact I have zero chance of inheriting any assets affects my ability to get very worked up about the principle of inheritance taxation.

I think it is more a "feels" thing. I'll probably inherit a significant amount (to a normal person (and myself...), perhaps crumbs to some of the pb elite)), and think it weird that it would be taxed less strictly than me working hard.

Maybe if it was from a family business rather than well paid professional jobs I might think differently as that would create more attachment between the money, bequestors and the future so I can see where the farmers are coming from, but ultimately we are skint, and someone has to be taxed more and very few of the candidates for that will like it either.

I visited my mother recently, and it seems like she's lost all her money on this McCarthy & Stone leasehold retirement flat that she moved into a while ago, and she feels quite bitter about it.

One of the other residents left their flat to the Salvation Army, and it sounds like they're going to struggle not to lose money on the bequest.

People really like to pass money onto their kids once they don't need it anymore. It is a strong emotional thing.

Starmer/Reeves in full panic and change IHT for farmers

Have they said they'd reverse that? I'd be surprised. It would lead to a revolt not least from me.

BBC News - Government waters down inheritance tax plan for farms
https://www.bbc.co.uk/news/articles/c8e9n3y28g1o

This is the best Christmas present me, my family and my friends could have had. I can now safely sleep at night, that is how bad it has been. Especially for those older than me with serious health issues. Bad news for agricultural valuers of course who would have made a fortune over the arguing the toss over the values of farms. It takes my estate out of the danger zone and so we can now look forwards to building the shed which we have needed for many years.

I had expected this to become a jockeying point when the new Labour leader was selected or else it to be put off for a year, and a year and a year.

They pointed the shotgun at the whole farming industry. We stood up to them and they have blinked. But we won't forget, no we won't forget ...

That is the whole point

The farmers will not forgive or vote labour because of this

They also voted en masse for Brexit and then realised they had screwed themselves. They are the ultimate selfish opportunists who believe the world owes them a living. Of course they won't vote labour.

British farmers do appear to be cretinous, as a class.
Brexit is exhibit 1.

However, if you care about land use and food quality, then you need to care about farmers.

Reeves’s problem is she actively hates much of the country, including farmers.

The amount of political capital burnt in this thing is incredible. Ultimately, the correct decision, tax should be targeted at investors and companies buying land. The vast majority of farm estates will now be exempt, providing they make use of the £5m spouse allowance

The people benefiting from this change are those sitting on a highly tax efficient asset worth many millions who quite sincerely and genuinely want to keep it that way and don't see why they should pay the same tax as say someone running a productive business.

We have to concede an extremely effective lobbying exercise by wealthy landowners but we don't really need to agree with the principle of it. It's far more egregious than WFA for example.

Those who are genuinely worried about family farming would be far better off looking at *incomes* - for instance, supermarket buying practices - and food security.

But this lobbying has been all about protecting capital investment.

It's like houses - those who have houses are treated far better than those without when it comes to IHT. No wonder the values are distorted.

IHT is theft!

Property is theft comrade.

Your family member dies, you're bereaved, and you're left with a massive bill to Haitch-MRC - how does that work?

A family member dies and you're left a massive unearned pot of gold. How is that fair?

Because your family member worked hard all their life and should be allowed to dispose of their savings as they see fit?

Trump-class battleships?

"Trump unveils plans for 'Golden Fleet' battleships named after himself"

https://www.bbc.co.uk/news/articles/c2084nq2npjo

No expert, but it doesn't look like a battleship to me.

TBF a Great War/WW2 corvette didn't look like the small sailing ship of the mid-C19 ... What is also notable is that it's to be called the Trump Class, which indicates that the first ship of the class will be named after Mr Trump (a class of warships is usually named after the first of the class, pace [edit] UK MoD and its stupid messing around of late).

Usually Presidential names get applied to Nimitz- or Ford-class nuclear aircraft carriers. But it's not cut and dry. Mr Carter got a nuke sub named after him (entirely appropriately and I imagine amicably, as he was a nuke sub engineer by trade).

No serving leader of any nation (with the possible exception of Russia) has ever named a ship after themselves.
It's pretty well the ultimate in imbecilic narcissism.

Henry VII and VIII had a warship in the Royal Navy called "Great Harry".

I do think the early modern monarchs are a good pattern for Trump's ambitions, more than 20th century totalitarians.

Starmer/Reeves in full panic and change IHT for farmers

Have they said they'd reverse that? I'd be surprised. It would lead to a revolt not least from me.

BBC News - Government waters down inheritance tax plan for farms
https://www.bbc.co.uk/news/articles/c8e9n3y28g1o

This is the best Christmas present me, my family and my friends could have had. I can now safely sleep at night, that is how bad it has been. Especially for those older than me with serious health issues. Bad news for agricultural valuers of course who would have made a fortune over the arguing the toss over the values of farms. It takes my estate out of the danger zone and so we can now look forwards to building the shed which we have needed for many years.

I had expected this to become a jockeying point when the new Labour leader was selected or else it to be put off for a year, and a year and a year.

They pointed the shotgun at the whole farming industry. We stood up to them and they have blinked. But we won't forget, no we won't forget ...

That is the whole point

The farmers will not forgive or vote labour because of this

They also voted en masse for Brexit and then realised they had screwed themselves. They are the ultimate selfish opportunists who believe the world owes them a living. Of course they won't vote labour.

British farmers do appear to be cretinous, as a class.
Brexit is exhibit 1.

However, if you care about land use and food quality, then you need to care about farmers.

Reeves’s problem is she actively hates much of the country, including farmers.

The amount of political capital burnt in this thing is incredible. Ultimately, the correct decision, tax should be targeted at investors and companies buying land. The vast majority of farm estates will now be exempt, providing they make use of the £5m spouse allowance

The people benefiting from this change are those sitting on a highly tax efficient asset worth many millions who quite sincerely and genuinely want to keep it that way and don't see why they should pay the same tax as say someone running a productive business.

We have to concede an extremely effective lobbying exercise by wealthy landowners but we don't really need to agree with the principle of it. It's far more egregious than WFA for example.

Those who are genuinely worried about family farming would be far better off looking at *incomes* - for instance, supermarket buying practices - and food security.

But this lobbying has been all about protecting capital investment.

It's like houses - those who have houses are treated far better than those without when it comes to IHT. No wonder the values are distorted.

IHT is theft!

Property is theft comrade.

Your family member dies, you're bereaved, and you're left with a massive bill to Haitch-MRC - how does that work?

A family member dies and you're left a massive unearned pot of gold. How is that fair?

Because your family member worked hard all their life and should be allowed to dispose of their savings as they see fit?

So if we all work hard enough we can have rich grand-parents?

No, you can be rich grandparents should you so wish

Trump-class battleships?

"Trump unveils plans for 'Golden Fleet' battleships named after himself"

https://www.bbc.co.uk/news/articles/c2084nq2npjo

No expert, but it doesn't look like a battleship to me.

TBF a Great War/WW2 corvette didn't look like the small sailing ship of the mid-C19 ... What is also notable is that it's to be called the Trump Class, which indicates that the first ship of the class will be named after Mr Trump (a class of warships is usually named after the first of the class, pace [edit] UK MoD and its stupid messing around of late).

Usually Presidential names get applied to Nimitz- or Ford-class nuclear aircraft carriers. But it's not cut and dry. Mr Carter got a nuke sub named after him (entirely appropriately and I imagine amicably, as he was a nuke sub engineer by trade).

No serving leader of any nation (with the possible exception of Russia) has ever named a ship after themselves.
It's pretty well the ultimate in imbecilic narcissism.

Do HMS Queen Elizabeth and the Queen Elizabeth class aircraft carriers count?

It's named after the first Elizabeth. Both have boring names - I want Dwarf and Dainty, to confuse the enemy.

Bring back HMS Hood.

HMS Trafalgar and HMS Waterloo.

HMS Agincourt too.

HMS Hood exploded about 5 minutes into the gun battle with the Bismarck.

I like names like Warspite, Defiance and Vengeance. Or Temeraire, to confuse the French

At one point the RN had a ship named after the most significant hiding they ever got off the French - HMS Chesapeake. I'm sure that confused them.

Starmer/Reeves in full panic and change IHT for farmers

Have they said they'd reverse that? I'd be surprised. It would lead to a revolt not least from me.

BBC News - Government waters down inheritance tax plan for farms
https://www.bbc.co.uk/news/articles/c8e9n3y28g1o

This is the best Christmas present me, my family and my friends could have had. I can now safely sleep at night, that is how bad it has been. Especially for those older than me with serious health issues. Bad news for agricultural valuers of course who would have made a fortune over the arguing the toss over the values of farms. It takes my estate out of the danger zone and so we can now look forwards to building the shed which we have needed for many years.

I had expected this to become a jockeying point when the new Labour leader was selected or else it to be put off for a year, and a year and a year.

They pointed the shotgun at the whole farming industry. We stood up to them and they have blinked. But we won't forget, no we won't forget ...

That is the whole point

The farmers will not forgive or vote labour because of this

They also voted en masse for Brexit and then realised they had screwed themselves. They are the ultimate selfish opportunists who believe the world owes them a living. Of course they won't vote labour.

British farmers do appear to be cretinous, as a class.
Brexit is exhibit 1.

However, if you care about land use and food quality, then you need to care about farmers.

Reeves’s problem is she actively hates much of the country, including farmers.

The amount of political capital burnt in this thing is incredible. Ultimately, the correct decision, tax should be targeted at investors and companies buying land. The vast majority of farm estates will now be exempt, providing they make use of the £5m spouse allowance

The people benefiting from this change are those sitting on a highly tax efficient asset worth many millions who quite sincerely and genuinely want to keep it that way and don't see why they should pay the same tax as say someone running a productive business.

We have to concede an extremely effective lobbying exercise by wealthy landowners but we don't really need to agree with the principle of it. It's far more egregious than WFA for example.

Those who are genuinely worried about family farming would be far better off looking at *incomes* - for instance, supermarket buying practices - and food security.

But this lobbying has been all about protecting capital investment.

It's like houses - those who have houses are treated far better than those without when it comes to IHT. No wonder the values are distorted.

IHT is theft!

Property is theft comrade.

Your family member dies, you're bereaved, and you're left with a massive bill to Haitch-MRC - how does that work?

A family member dies and you're left a massive unearned pot of gold. How is that fair?

Because your family member worked hard all their life and should be allowed to dispose of their savings as they see fit?

Just be grateful and pay the tax.

Let’s say someone has a big success and gets paid a £1m bonus on April 1. They pay income tax on it under PAYE.

They then die on April 8.

And you think the government should have the right to double dip on that income simply because the individual concerned has died?

Yes. The person who has died obviously doesn't care. And the person who inherits is a lucky sod.

The fundamental difference is that I believe people own their assets. You clearly believe that they have them on suffrance from the government

Isn't that how it works with a monarchy, that they own everything, but they grant everyone else temporary title to bits of it?

Nope.

Based on this polling I wouldn’t be surprised the Tories ahead of Reform at some point in quarter one of 2026, if present trends hold, not consistently but on an outlier basis.

Word missing there?

On the substantive point, am I right in thinking as well that Farage is at the same time the oldest and the least experienced of the four major party leaders? He's not likely to be improving now as he ages and he's never been in cabinet.

He has considerable political experience, but very little parliamentary experience. The latter is not that much of a barrier anymore, he will have had 4-5 years of it by the time of the next election which is not that far off several modern PMs, though the odds woudl also be that he has extremely few MPs in his ranks with much parliamentary let alone governmental experience, which may be a more significant factor.

He has lots of Parliamentary experience. The European Parliament that is. Plus he was leader of the EFDD political group in the Parliament https://en.wikipedia.org/wiki/Europe_of_Freedom_and_Direct_Democracy . I don't like him (obvs) but he is familiar with parliamentary procedure.