Hypocrisy Of The Highest Order?

[naomi24]

The timing of the transactions by a Labour MP's family has raised questions about potential foreknowledge of Labour's tax plans'

 

Henry Tufnell's family transferred valuable farmland just 20 days before the party's Budget introduced controversial inheritance tax changes affecting farmers.

 

The move could save the family millions in future tax liabilities under new rules targeting agricultural land.

 

https://www.gbnews.com/politics/henry-tufnell-labour-mp-family-farm-transfer-rachel-reeves-inheritance-tax

 

[sandyRoe]

I remember reading somewhere that when it comes to scandals, with Labour it's money and with the Tories it's sex.

 

[ToraToraTora]

does have a whiff about it.

[THECORBYLOON]

The Country Land and Business Association (CLA) carried out a poll about the proposed changes and reported on the findings on 30th September.

"More than 500 farmers and landowners responded to a recent poll by CLA, amid concerns the government is looking to change agricultural property relief (APR) and business property relief (BPR) in the budget next month. "

As they knew about  the proposals, it's hardly surprising that some MP's were also aware of them.

[Prudie]

As there are over 100,000 farmers in UK a poll of 500 (0.5%) is hardly a valid statistic to excuse this by saying lots of people knew. That's not the point though, it's about telling people beforehand and an MP should not divulge likely changes to family/friends. It's akin to insider trading.

[New Judge]

I read his too, naomi. 

What I didn't understand is why Mr Tufnell's family was in such a rush. Measures like this are never applied immediately. At best it would have been applicable from next April, but in fact the changes are not being brought in unil 2026.

[Atheist]

Some ABers regard tax avoidance as a moral duty. I do think that hyopocrisy is a bit overrated as a 'sin'.  It's not in the ten commandments.

[Peter Pedant]

I remember reading somewhere that when it comes to scandals, with Labour it's money and with the Tories it's sex.

my papa said - labour caught with their hands in the till and the Tories take us into war

[davebro3]

I wouldn't say it's hypocrisy - surely that's saying one thing but doing the opposite?

Maybe (false) insider knowledge thinking the changes might be implemented from day 1. Otherwise it's just rich folks protecting their wealth - perfectly normal.

[Peter Pedant]

there is a tax charge on transfer of possessions even  if it is transferred under  market value.

anyway Jacob R-M transferred his assets to Ireland and basically took the view he cd do thatand it was no one else's business

[Prudie]

I think it's a bit debatable whether this is tax avoidance or tax evasion - which is a 'sin'.

[Atheist]

It seems that Tory behaviour is considered prudent and rightful protection of their own interests, whereas Labour behaviour is often called hypocritical.

[davebro3]

If it's legal then it's "avoidance". No debate needed.

[Prudie]

But isn't that because Tory principles are all about accumulating and protecting personal wealth whereas Labour is quite the opposite, share it out to balance equality (except for those who are more equal than others...)

[naomi24]

//As they knew about  the proposals//

 

Those changes, when publicly announced, sent shock waves through the farming community so whilst that meagre 500 may have been aware that changes could be proposed, I doubt very much they knew what they were likely to involve.

[THECORBYLOON]

PRUDIE, "As there are over 100,000 farmers in UK a poll of 500 (0.5%) is hardly a valid statistic to excuse this by saying lots of people knew."

I didn't say, "lots of people knew", did I?

The fact there was a poll conducted meant only there was clearly speculation by folk who were not Labour MPs.

The GB News report also states the MP's parents own 1,700 acres still, "leaving them with considerable tax exposure."

If it were done solely to escape the proposed changes, why not dispose of the whole lot?

 

[THECORBYLOON]

NAOMI, the point is the proposed change was not a secret, was it?

[naomi24]

Corby, //NAOMI, the point is the proposed change was not a secret, was it?//

 

Wasn't it?   Were those 500 made aware of exactly what was being proposed?

[Canary42]

Shock !  Horror!  Tory supporters find that Labour politicians are as corrupt and sleazy as their own.

deja vu

[THECORBYLOON]

I have no idea if they knew the exact details but the fact there might be changes to the relief was known and might have prompted owners to take action.

[naomi24]

Corby, that's nonsense - and I think you know that.   Had those 500 farmers been aware of what was to come, the public - and the farming community - would have known about it long before the shock budget announcement.