So talking about farmers having to pay IHT. I pointed out that farming is a marginal business, which it is.
How do they afford their 10s of thousands pounds on machinery if it is marginal? A quick look at the most bought combine in the UK. 60k. That’s double the average salary of the UK person. For one bit of machinery for the farm. They must be making money somewhere to buy those pic.twitter.com/GdGqMSHeoU
— Matty Clark (@mattyclark10) November 18, 2024
This, of course, is why it’s a marginal business.
The above is just one example of a plethora of ignorance I have discovered on this platform. The basics of a business – capital, turnover, profit and so on is completely unknown to so many people, it’s frightening. This is why we have a chancellor who thinks that a farmer can just cough up the odd million out of his back pocket. We are living an an age of ignorance.
That £60k is for a second hand machine! Brand new ones can cost £500k. I don’t suppose Matty Clark (or Rachel Theeves for that matter) drives around in a 15 year old car…
You have to remember most new farm machinery is purchased on leases, particularly the really expensive stuff, spreading the cost over 3-5 years. Not many people will be shelling out the full purchase price of a Claas Lexion in cold hard cash.
Its no different to seeing your neighbour turn up in a brand new swanky car – just because they’re driving a £50k car doesn’t mean they had £50k in cash to buy it outright. It just means they can (for now) afford the monthly payment……..
“We are living an an age of ignorance.”
The politicians being the most ignorant of all. I wonder how this fool thinks that you can harvest grain without a combine?
The worrying thing is that now I’ve delved into X, I find that he is but the tip of the iceberg.
“Think of how stupid the average person is, and realize half of them are stupider than that.”
? George Carlin
Sounds about right.