Farmers hit back over Chancellor's inheritance tax charge
Video Credit: ODN - Duration: 01:03s - Published
Farmers hit back over Chancellor's inheritance tax charge
The chancellor appears to have a fight on her hands with Britain's family farmers.
In her Budget, Rachel Reeves closed a loophole to stop rich people investing in land to reduce their inheritance tax bills, penalising them with a new million pound tax threshold.
But farmers in Cirencester have labelled the move "demoralising" and the deputy president of NFU Cymru Abi Reader warns it will lead to "economic stagnation".
Report by Brooksl.
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The shadow business secretary has called on Chancellor Rachel Reeves to "change course quickly", after new ONS figures show inflation increased to 2.6% in November. Andrew Griffith adds all the major economic metrics, such as inflation and growth, "are going in the wrong direction", and fears what four years of a Labour government will do to the UK economy. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rachel Reeves says she can understand why women affected by changes to the state pension age will feel "disappointed", but adds that paying an "expensive compensation bill" was not the best use of taxpayers' money. Campaigners say the government's decision not to compensate women affected by changes to the state pension age, and their communication of these changes, are "bizarre and totally unjustified". But the chancellor says the ombudsman has reported that around 90 percent of women knew the changes were coming. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rachel Reeves says the UK's latest inflation figures are "broadly in line with our international peers", despite rising to its highest level since March. The chancellor adds, "I recognise the cost of living crisis continues to bite" but that the government is "taking action" to address its challenges. ONS figures show inflation has risen to 2.6% in November, from 2.3% the previous month. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Shadow work and pensions secretary Helen Whately says businesses are "distraught" at the impact of the Budget. It comes as the Confederation of British Industry warns tax rises in the autumn Budget are "undermining investment among UK companies". Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Leader of the House of Commons Lucy Powell says the government will be looking at "bringing in new legislation" to strengthen rules on political donations following reports that billionaire Elon Musk is to make a large donation to Reform UK. Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Shadow Levelling Up Secretary Kevin Hollinrake insists Kemi Badenoch is the "right person" to the lead the Conservative Party saying, "she is very strong, she's very optimistic, she is very bold". Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
AA President Edmund King believes Monday morning will be the busiest period of the Christmas getaway on the UK's roads as his motoring organisation predicts āsome 22 millionā drivers will travel today. Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Care minister Stephen Kinnock has announced a new funding boost alongside reforms to GP services which he says will "bring back the family doctor".
Report by Etemadil. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
57-year-old Brian Whitelock has been jailed for life without parole for murdering his neighbour Wendy Buckney in a savage attack in her own home. Whitelock was released from prison in December 2018 after being deemed a low risk by the Parole Board, having served 18 years over a separate double killing of his friend and brother.
Report by Etemadil. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Donald Trump has pledged to impose reciprocal tariffs on countries like India that charge high duties on US goods. He emphasized that if India and others impose tariffs on US products, the US will..
Hundreds of farmers have turned up outside Parliament in Westminster as Sir Keir Starmer is quizzed over inheritance tax changes at prime ministerās questions.
Report by Ajagbef. Like us on..
Jeremy Clarkson has pleaded with Labour to "back down" over its Inheritance Tax on farms as he joined thousands of farmers for a mass protest in London on Tuesday. The 64-year-old former Top Gear..
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