Dimitris Kouimtsidis
Guest Reporter
Elon Musk has accused the British government of going "full Stalin" over Labour's new inheritance tax policy on farms.
The tech billionaire made the comparison on X in response to a Guardian article arguing that the tax changes would bring "new life" to rural Britain.
The world's richest man drew parallels between Labour's tax reforms and the Soviet dictator's notorious farm collectivisation programme of the 1930s.
Labour's controversial tax plan, unveiled in October's budget by Rachel Reeves, will cap inheritance tax relief for agricultural assets at £1million from April 2026.
The changes mean heirs of farms worth more than £1m will face a 20 per cent inheritance tax rate.
The British Treasury estimates fewer than 500 farms per year will be affected by the new policy.
However, the National Farmers' Union (NFU) disputes these figures, claiming the number of impacted farms is double the Treasury's estimate.
Between 10,000 and 40,000 farmers are expected to descend on London tomorrow to protest against the inheritance tax changes.
LATEST DEVELOPMENTS:
The NFU has branded the policy "disastrous" and is actively lobbying MPs to force a U-turn from the Labour government.
Tom Bradshaw of the NFU warned: "This Budget not only threatens family farms but also makes producing food more expensive, which means more cost for farmers who simply cannot absorb it."
Downing Street has declined to engage directly with Musk's remarks, with a spokesman saying: "We're not going to get into a back and forth on individual comments."
This is not Musk's first clash with the British government.
Over the summer, the Tesla CEO predicted "civil war" in Britain following riots after a fatal stabbing incident.
Following those comments, he was notably absent from a UK government-organised investment summit.
The latest criticism comes as Number 10 seeks to improve relations with Trump's incoming administration, with Musk being a key ally of the president-elect.
Find Out More...
The tech billionaire made the comparison on X in response to a Guardian article arguing that the tax changes would bring "new life" to rural Britain.
The world's richest man drew parallels between Labour's tax reforms and the Soviet dictator's notorious farm collectivisation programme of the 1930s.
Labour's controversial tax plan, unveiled in October's budget by Rachel Reeves, will cap inheritance tax relief for agricultural assets at £1million from April 2026.
The changes mean heirs of farms worth more than £1m will face a 20 per cent inheritance tax rate.
The British Treasury estimates fewer than 500 farms per year will be affected by the new policy.
However, the National Farmers' Union (NFU) disputes these figures, claiming the number of impacted farms is double the Treasury's estimate.
Between 10,000 and 40,000 farmers are expected to descend on London tomorrow to protest against the inheritance tax changes.
LATEST DEVELOPMENTS:
- Elon Musk brands UK a 'police state' after care worker jailed for livestreaming riots
- Musk's incredible one word response to People's Channel triumph as GB News beats BBC and Sky AGAIN
- Elon Musk reacts to Nigel Farage's shock GB News interview with journalist Allison Pearson
The NFU has branded the policy "disastrous" and is actively lobbying MPs to force a U-turn from the Labour government.
Tom Bradshaw of the NFU warned: "This Budget not only threatens family farms but also makes producing food more expensive, which means more cost for farmers who simply cannot absorb it."
Downing Street has declined to engage directly with Musk's remarks, with a spokesman saying: "We're not going to get into a back and forth on individual comments."
This is not Musk's first clash with the British government.
Over the summer, the Tesla CEO predicted "civil war" in Britain following riots after a fatal stabbing incident.
Following those comments, he was notably absent from a UK government-organised investment summit.
The latest criticism comes as Number 10 seeks to improve relations with Trump's incoming administration, with Musk being a key ally of the president-elect.
Find Out More...