‘No liquid assets!’ Farmer DISMANTLES Starmer tax argument in under 10 seconds as supermarket meltdown looms

A desperate farmer has perfectly summed up why Labour’s proposed inheritance tax changes are completely misguided.

The potent rebuttal comes as rebel farmers threaten to blockade supermarket ports as soon as mid-January in response to Chancellor Rachel Reeves’ decision to impose a 20 per cent inheritance tax on farmers’ assets valued over £1million, which hitherto enjoyed tax breaks designed to facilitate the transfer of family farms across generations.

Reeves claims that the inheritance tax on agricultural properties is needed to fund public services, including the NHS. She claims only the wealthiest landowners will be affected.

Proponents also argue that making farmland subject to inheritance tax would curb the practice where wealthy individuals or entities bought farmland primarily to avoid inheritance tax, thereby ensuring a fairer tax system.

Critics counter that the move will disincentivise hard-working families and cause capital flight, destroying wealth creation.

So, which is it?

A farmer has made a persuasive argument against the inheritance tax.

In an exclusive interview with GB News, Nick Tarry from Northamptonshire broke down the economics of his business, busting a common myth in the process.

He said: “People on the outside looking in see farmers with, say, 10 or 12,000 acres of land – that’s millions per farm – and conclude that we’re very wealthy. But the truth is, we’re asset-rich but cash-poor. We need those assets to continue our business.

“The price has gone up and up and up since my granddad bought this farm. But that’s sort of irrelevant The value of the assets is never realised because we need to maintain them to just carry on the business and our farming practice.”

Many farmers like Tarry are asset-rich, but cash-poor, meaning they hold valuable land but lack liquid assets to cover high inheritance taxes.

Farmers invest heavily in land, machinery, and livestock, all of which contribute to their asset base but are not easily convertible to cash without disrupting the farm’s operations.

This imbalance means that while their net worth might look high due to land values, their immediate cash availability can be low.

“We’re a farm of 500 acres,” Tarry continued, adding: “If we had to sell any of these assets, whether it’s land or machinery, to pay any potential inheritance tax bill, that’s going to impact our business. We’re not going to be able to carry on the way we are now. We’re only scraping by anyway, the margins are so small. That’s what takes the mick – they’re [Labour] are just trying to take the land away.”

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If he’s forced to sell his land to meet these tax obligations, Tarry fears it will “crash the business”.

The farmer warns that the ripples will be felt throughout the industry, affecting people’s mental health and making it impossible for future generations to honour their parents’ legacies and carry on their family businesses.

It’s not just farmers that will feel the impact.

Pete from Thatcham tells GB News that Labour’s tax changes will take a hammer to every part of the supply chain.

“I’m a butcher. I work very closely with farmers and the community. What’s happening is going to impact us massively across the nation. Everybody in all walks of life will feel the consequence,” he told GB News.

According to Pete, if small farms are killed off Britain will be more reliant on imports, and that will have a “huge impact” on welfare and sustainability.