Just before Christmas I attended the funeral of my old housemaster, Forbes Wastie. A man I adored, he also taught biology and in later life was Chair of the local magistrate’s bench.
Boyishly, I could seldom resist asking him how that role, “Chair of the bench”, was going.
An anecdote told in the eulogy recalled him dressed as a pantomime dame admonishing a boy for smoking. He was a farmer’s son and he and I had wonderful conversations on that great subject. Sat in my pew, I had one more conversation with the great man. (And, yes, I admit to feeling emotional).
“Well, Martin, not a good budget for farmers!”
“No, Forbes, we’re pretty upset about it. I worry about the next generation and all the dependents of the current one.”
“Well, Martin, it is a very big challenge for you.”
“Yes Forbes, the industry is united in fighting it.”
“No, Martin, I mean for you. And your dear family. What are you going to do about it?”
Typical Forbes. He had that knack of making you ask yourself the right question and of getting to a better balance, through a bottomless well of kindness. Listening to the choir and gazing into the ceiling of the church, lost in this remarkably vital but imaginary conversation, I gave him an answer.
“Well, Forbes, we must get our heads round a new plan, in case the Government doesn’t realise the gravity of its mistake. This will definitely bring forward family discussions on succession and more on all matters financial.” “
And Martin, only then, when you are organised in yourself, should you follow your leader into the battle. Their jobs have never been so important, I know you will support them. And I needn’t repeat that determination is key, but respect even more so. Do not forget that we are all tasked with paying our tax.”
Always a team man, this last comment was typical of his good words of life advice. We didn’t need to discuss the vindictive raising of VAT on private schools. Why spoil the occasion? As the funeral progressed and our conversation meandered into sheep breeding, worm resistance and tree planting, another group of characters hove into my mind. I acknowledged the front row of the National Farmers union (NFU) leadership, Tom, David and Rachel. Are they being advised by a “Forbes” too, I asked myself? I do hope so…for the battle draws near.
Subsequent to Forbes’s funeral, and the gathering of farmers in Whitehall at the NFU backed mass lobby, back in November, little sign of movement on IHT relief has been forthcoming. Nearly all the supermarkets have backed the farmers, and many county councils, family business organisations and professional bodies have spoken against the budgeted proposal to erode the twin IHT relief for business and property. It continues to cause upset and industrial unrest, with many older farmers pitched into a state of bleak despair. An unaffordable attack on pinched businesses at a time of flux and tragedy is not exactly encouraging “growth”, nor future tax revenue.
So, what next? At the January meeting of the NFU Council some 80 leading farmers from all over England and Wales debated the question. The mix of scholar and warrior led to differing ideas. The “scholars” opting to lobby with technical brio and to keep their place in the corridors of power, in the small rooms where big decisions are played. The farmers, though, contain a significant “soldierly” community. Practical, brave and pretty furious, many calling for direct action such as blockades of ports and key food distribution sites, the “we must be seen to do something on behalf of our members” argument was powerfully put. In the end a skilled bit of chairmanship by the President, Tom Bradshaw saw a sensible middle course prevail. To value our place at the table of power as well as supporting polite demonstration. A middle course, but only for the immediate future.
At home we are weighing our options carefully. I fear we may have to burden the next generation sooner than they or we may wish with the complexity of property ownership, in a business full of long-term aspiration and investment with very low yield. It may mitigate our tax liability but forces a high risk position for a family business. Government should not be creating such vulnerability.
This article was originally published in The Property Chronicle Spring 2025 Issue.
