Andrew Lloyd Webber has spoken to GB News from the farmers’ protest in London, hitting out at the “confused” government for its inheritance tax changes.
The world-renowned composer told Bev Turner he has worked on a farm for 40 years himself but his decision to attend today’s Westminster rally was “not about him”.
The West End stalwart hit out on GB News about the “myth” that farmers are “swimming in cash” as he called for the Labour Government to reconsider its position.
But Lloyd Webber made it clear that his biggest fear was farms potentially ending up in the hands of “outsiders”.
“In the longer term, what will happen is they’ll all be bought by foreigners, probably outsiders”, he said.
“People who aren’t buying it for the love of the countryside. They’re buying it purely as a long term investment.
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“Many, many, many people are hovering around at the moment, rubbing their hands in glee. I can assure you, they’re not British.”
Farmers are in London holding a rally against last month’s budget which set out changes to inheritance tax for farming businesses.
The changes will see the 100 per cent relief for farms limited to the first £1 million of combined agricultural and business property.
For anything above that, landowners will pay a 20 per cent tax rate, rather than the standard 40 per cent rate of inheritance tax applied to other land and property.
Environment Secretary Steve Reed has defended the changes as “fair and balanced”, claiming it would only affect 500 estates a year and small family farms would not be hit.
He said in the Telegraph that exemptions for agricultural land had led to wealthy individuals from non-farming background buying up land to avoid paying inheritance.
Sir Keir Starmer told reporters on his way to the G20 summit in Brazil that it was important to support farmers, pointing to £5 billion over two years for farming in England.
He said he was “absolutely confident the vast majority of farms and farmers will not be affected” by the tax changes.
Lloyd Webber lavished praised on farmers, saying they are the “absolute salt of the earth”.
“I am here to support the small farmers, they keep our countryside going”, he said.
“I have done what I can with my farm for 40 years which we don’t bang the drum about.
“But I am here for the farmers, not for myself.”
