Well IHT is based on the net value so if they have unpaid capital loans it will reduce the chargeable estate value and mitigate the tax, so it's not really relevant to these tax changes.
Yes - they enjoy the work and it's what they know - that's an important point. However, whenever tax breaks are mentioned, suddenly it's a portrayed as a bleak job that they do because they have no other option, or they do it for the good of the nation rather than their own interest. It's an occupation like any other, and I don't think it should be afforded tax breaks because it's an enjoyable job, or because it's a lifestyle they are accustomed to.
I don't know in detail what the realistic pros and cons would be of farms being bought out by big corporations, that's why I have asked. I haven't stated a preference one way or the other. I think monopolization and the dangers of big corporations is a topic in and of itself. What I don't quite get is why this industry is different to any other in that regard?
Yes, I do tend to shop at big supermarkets 90% of the time because it's affordable and convenient. I like local shops, butchers, bakeries, farm stores etc, but it is a luxury I can't justify 90% of the time. But if the local bakery premises was worth several million, and was afforded industry specific tax breaks, I would question the purpose and merit of those tax breaks.
Again, I'm not decided on this matter. I just feel there's more to it but everyone seems to have their minds up based upon emotional rhetoric.