Gabrielle Wilde
Guest Reporter
Andrew Lloyd Webber has joined thousands of farmers protesting in London today against planned inheritance tax changes, dismissing claims that farm owners are "swimming in cash".
The renowned composer, who farms nearly 5,000 acres himself, told GB News he was attending to support small farmers, calling them "the absolute salt of the earth".
"I'm here really entirely for the small farmers, not for myself," Lloyd Webber said at the mass rally near Westminster, where over 10,000 protesters have gathered to voice their opposition to Labour's new inheritance tax measures.
GB News host Bev Turner asked him: "It's a myth, isn't it, that all the farmers are swimming in cash?"
He responded: "I mean, take me on paper, I have have a big asset, but in practice that asset produces nothing.
"I read a really good comment made that if actually somebody came on Dragon's Den and said that this asset only pays back 2.2 per cent, which is what most farms do, the Dragons would say this is not a business."
LATEST DEVELOPMENTS
From April 2026, farms worth over £1 million will face a 20 per cent inheritance tax charge under changes announced in Labour's Budget, half the standard 40% rate.
These agricultural assets were previously entirely exempt from inheritance tax under agricultural property relief law.
Earlier on, Lloyd Webber warned that "foreigners" are looking to buy the land when farmers can no longer afford it and are "rubbing their hand with glee."
“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.
“Many, many, many people are hovering around at the moment, rubbing their hands in glee. I can assure you, they’re not British.”
The National Farmers' Union (NFU) has gathered 1,800 members in London - triple the number originally planned - for a mass lobby of MPs to urge backbenchers to block the government's plans.
A larger rally at Richmond Terrace has drawn over 10,000 registered attendees, with broadcaster Jeremy Clarkson among the expected speakers.
Clive Bailye, co-organiser of the rally, told the BBC it was set up as a peaceful demonstration with public support.
However, he warned that some farmers might resort to more direct action-style protests in the future, saying: "They are at a point now where they have nothing to lose."
The government estimates only 500 of the UK's wealthiest landowners will be affected annually by the inheritance tax changes.
The Treasury says just the top 7 per cent of claims account for 40 per centof the total value of the relief fund.
Find Out More...
The renowned composer, who farms nearly 5,000 acres himself, told GB News he was attending to support small farmers, calling them "the absolute salt of the earth".
"I'm here really entirely for the small farmers, not for myself," Lloyd Webber said at the mass rally near Westminster, where over 10,000 protesters have gathered to voice their opposition to Labour's new inheritance tax measures.
GB News host Bev Turner asked him: "It's a myth, isn't it, that all the farmers are swimming in cash?"
He responded: "I mean, take me on paper, I have have a big asset, but in practice that asset produces nothing.
"I read a really good comment made that if actually somebody came on Dragon's Den and said that this asset only pays back 2.2 per cent, which is what most farms do, the Dragons would say this is not a business."
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From April 2026, farms worth over £1 million will face a 20 per cent inheritance tax charge under changes announced in Labour's Budget, half the standard 40% rate.
These agricultural assets were previously entirely exempt from inheritance tax under agricultural property relief law.
Earlier on, Lloyd Webber warned that "foreigners" are looking to buy the land when farmers can no longer afford it and are "rubbing their hand with glee."
“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.
“Many, many, many people are hovering around at the moment, rubbing their hands in glee. I can assure you, they’re not British.”
The National Farmers' Union (NFU) has gathered 1,800 members in London - triple the number originally planned - for a mass lobby of MPs to urge backbenchers to block the government's plans.
A larger rally at Richmond Terrace has drawn over 10,000 registered attendees, with broadcaster Jeremy Clarkson among the expected speakers.
Clive Bailye, co-organiser of the rally, told the BBC it was set up as a peaceful demonstration with public support.
However, he warned that some farmers might resort to more direct action-style protests in the future, saying: "They are at a point now where they have nothing to lose."
The government estimates only 500 of the UK's wealthiest landowners will be affected annually by the inheritance tax changes.
The Treasury says just the top 7 per cent of claims account for 40 per centof the total value of the relief fund.
Find Out More...