Sir Keir Starmer has seemingly capitulated over Rachel Reeves’s inheritance tax raid just days after farmers threatened more “militant action” against plans to end their death duty exemption.
New inheritance tax rules could be changed to make it easier for those 80 and over to hand down their farm without incurring the 20 per cent levy, The Guardian has revealed.
The Treasury, which is currently assessing the impact of the changes, is also reportedly looking into the impact of changes announced in the Budget on active small and medium-sized farms.
Farmers met the Treasury on Thursday and proposed that older farmers should be exempt from gifting rules.
The rules stipulate that if they died less than seven years after handing the family farm down to their relatives, they would have to pay a tax that farmers have warned could wipe their business out.
Reeves looks set to change course just days after around 13,000 farmers descended on Whitehall to protest against the inheritance tax raid.
In a warning to Starmer, Farming Forum founder Clive Bailye said: “They need to know this is just a warm up act.”
The reported changes will likely reduce the expected amount raised by the tax – which stood at £520million a year when Labour first announced ending death duty exemptions for farmers.
FOLLOW BELOW FOR LIVE UPDATES THROUGHOUT THE DAY…
‘Disgrace!’ Starmer sparks fury by supporting ICC as Netanyahu faces ‘farcical’ arrest warrant
Sir Keir Starmer and an inset of Benjamin NetanyahuGETTY/PA
Israeli Prime Minister Benjamin Netanyahu could face arrest if he visits Britain after Sir Keir Starmer gave his backing to the International Criminal Court’s arrest warrant.
Netanyahu and former Israeli Defence Minister Yoav Gallant were yesterday named in arrest warrants issued by the Hague-based court over the ongoing conflict in Gaza.
Britain, as one of 124 ICC members, is obligated to enforce such warrants, with the Prime Minister’s spokesman notably refusing to rule out Netanyahu’s potential arrest.
Farage vows to ‘repeal’ hate speech laws after Pearson police probe dropped
Reform UK leader Nigel Farage has vowed to repeal hate speech laws following Essex Police’s decision to drop its investigation in Welsh journalist Allison Pearson.
Essex Police, which established a “gold squad” to investigate a social media post published last November, confirmed its decision last night.
Farage welcomed the announcement, revealing he was “delighted” by the decision.
He added: “Now what about the dozens of people every day who face this intimidation? Reform UK would repeal the hate speech laws.”
Labour FAILS to mention axing Winter Fuel Payments as energy bills jump to £1,738
Labour has failed to mention Sir Keir Starmer’s decision to axing Winter Fuel Payments for around 10 million pensioners in response to energy bills jumping to £1,738.
Household energy bills will jump by £21 from January, Ofgem confirmed this morning.
There had been hopes that the price cap would be unchanged or even decline but predictions of a cold winter are instead pushing global gas prices upwards.
Responding to the announcement, a Labour Party spokesman said: “The Conservatives trashed Britain’s energy security by leaving us exposed to global shocks and working people are still paying the price.
“From banning onshore wind to failing to deliver new nuclear, their reckless decisions sent bills soaring.
“Labour is fixing the mess the Conservatives created, with our clean energy mission that will protect consumers and boost our energy security.”