David Vance SubstackRead More
It has now become really clear that the Labour led WEF Budget was a full on assault on British Farmers. No one should be surprised at this but it’s worth understanding HOW this assault will work.
A typical farm valued at £4 million (land, buildings and machinery) might return a profit of only 50-100k per annum. Some years, it will make a loss. The Labour government has just announced a 20% inheritance on the value of the farm asset which amounts to £800,000 payable (on a £4M farm) after the death of the farmer. This is due over a 10 year timeline so that’s £80,00 every year. His children will be unable to pay this astronomical sum of money, so they will have to sell the farm. But no one will want to buy the farm because of the future inheritance tax issue.
However there is one man who has shown an enthusiasm to buy up farm land. His name is Bill Gates and he is now a major owner of Farms in the USA.
With almost 250,000 acres of highly productive farm ground spread out over 17 states, the co-founder of Microsoft ranks as the nation’s largest private farmland owner. Much of Gates’s acreage was bought in huge tranches, including a group of farmland assets owned by the Canada Pension Plan Investment Board that was acquired in 2017 and the 2018 acquisition of the 100 Circles acreage in the Horse Heaven Hills of Eastern Washington. Those two purchases alone total an investment of more than $690 million in farmland assets.
Why is Bill Gates so keen to buy Farms? That is a matter for some speculation but my opinion is that Gates is a dangerous sociopath who has no empathy for humanity and the idea that he could start snapping up British Farms is quite horrifying.
Views: 18
