Jeremy Clarkson's heartbreaking family farm confession before Rachel Reeves Budget blow

Jeremy Clarkson at his farm (Image: AMAZON PRIME)

Jeremy Clarkson admitted that his foray into farming had been a financial "disaster" and that his heart was broken.

Talking in the book named after his Oxfordshire Farm, Diddly Squat: Home To Roost, he revealed that he was torn over whether to keep his farm to hand down to family members after his death or not. He shared his confusion before this week's budget, which saw Rachel Reeves deliver a killer blow to those hoping to inherit their parents' land.

Jeremy has made a lucrative income from his work as a media personality, including TV shows such as The Grand Tour and Clarkson's Farm - but he was disheartened over just how little profit farming the land could earn him in comparison.

"I've tried farming conventionally and it didn't work. I've tried diversifying and that didn't work either," the frustrated ex-Top Gear star exclaimed. "I've tried with pigs and sheep and cows and that has been a disaster as well.

"So I arrived at a crossroads. And I was not sure which way to turn." He continued: "I could sell the farm and earn more from the interest than I do from growing bread and beer and vegetable oil.

Jeremy Clarkson is in despair over new inheritance tax policies (Image: INSTAGRAM)

"But I like having it for and for very good reasons, there are no death duties on farmland. So my children will like having it too.

"This means I have to hang onto it, but what then? Do nothing? That would be heartbreaking."

Now, of course, the situation for those inheriting farms has changed, as Jeremy begged fellow farmers to "hang on in there for five years" until the next election.

Labour Chancellor Rachel Reeves announced on Wednesday that inheritance tax (IHT) of 50% would be applied, at an effective rate of 20%, on all farms valued at over £1 million.

Rachel Reeves' budget has proved unpopular (Image: GETTY)

Farmers have now predicted that the changes will "cripple" them, with one pointing out that £1 million would only buy "30 acres" worth of land.

Andrew Ward was quoted in the BBC suggesting that Labour "doesn't understand agriculture" and that he can no longer hand his farm down to his daughters or nephew.

He raged: "I can only hope that I stay healthy for the next five years and the Conservatives are able to come back and reverse this."

Meanwhile, Location, Location, Location star Kirstie Allsopp furiously accused Labour of "f*****g farmers" - and Jeremy has indignantly banned Keir Starmer from setting foot on the premises of his pub, The Farmer's Dog.

Jeremy previously lamented that he'd made a mere £114 in his first year of farming, highlighting how tough the industry already was before the budget's latest blow.