Could Michael Gove be the one to fix Britain’s tax problems?
Sir: Sir James Dyson is right (Letters, 20 January). We need big farming; that is where our food comes from. But the elephant in the room is tax — inheritance tax and roll-over relief — which of course he conveniently skirts. Farming at this level needs subsidy precisely because land is too expensive for food production to give an economic return through income. And why is this? Because so much money chases land for tax reasons. The massive distortion of the allocation of capital due to tax reliefs is one of the fundamental problems of the UK. The solution is not more tax, it is to reduce tax to a level
