(3 days, 4 hours ago)
Lords ChamberWe have pledged £5 billion towards farming over the next few years, which will be spent through our environmental land management schemes. We are currently working to reform SFI to allow us to align it with our work on the land use framework and the 25-year farming road map. That is designed to protect the most productive land and boost food security while at the same time delivering for nature. We have published the update of a £30 million boost to HLS that recognises and rewards the vital role played by farmers in restoring habitats. We are also looking at how we can work with the farming sector in order to target those who would most benefit from future payment systems.
My Lords, has the Minister noticed that the Opposition seem to be obsessed with millionaire farmers? Is it not about time that they worried more about families in poverty? They call for more resources for farmers, but have they indicated where that resource is going to come from? They used to accuse us of having a money tree, but I think they have found an orchard.
My noble friend raises some interesting questions. It is clearly important that we target our resources and funding on those who are most in need. That is one of the reasons why the delinked payments are reduced the most for those who have the most and the least for those who need more time to make the changes.
(4 months, 4 weeks ago)
Lords ChamberIt is important that every water company does everything it can to support vulnerable customers. Like all businesses, some are better than others. We are working with water companies to try to ensure that they all come up to the same high standards that we expect. We know that some companies have committed to supplement support with contributions from shareholders’ profits between 2025 and 2030. Ideally, it would be good if all companies were prepared to do that.
My Lords, given the failure of the regulator to control these water companies, is it not about time that we had a new regulator that would look after the public?
This takes me right back to the Water (Special Measures) Bill, where this was discussed in some depth. The simple answer to my noble friend is that this is something that the water commission, which is making good progress under Sir Jon Cunliffe, will look at and will be central to the outcome for the future of the water industry, because there is great dissatisfaction with the way in which the water regulator has managed things in the past. Certainly, that is something that will be central to the water commission’s investigations.
(7 months ago)
Lords ChamberThere are two things here. People are looking just at the first £1 million and not at the opportunity for individuals to pass further tax reliefs on, of up to £2 million for one individual and £3 million for a couple. Also, there has been confusion around the data given out by Defra and the Treasury. The Treasury data shows that around 500 estates a year across the UK would be impacted to some extent and about 25% of the total number of estates currently making use of APR. What the Defra data shows is the asset value of farms in England so, by looking at that data, people have assumed that more farms would be impacted. But you cannot draw a straight line between asset value and what it means for inheritance tax, because the number of claims—how many people would be impacted by the change—is affected by many things, such as who owns the business, the nature of the ownership, how many owners there are, how they plan their affairs, and so on; this is where you have some of the confusion.
My Lords, can I congratulate the Minister and the Government on ending this unfair treatment of farmers? This is not about farmers; it is about landowners. As we know, millionaire landowners have been buying up land to avoid taxes, and it is about time the Government caught up with them.
My Lords, I appreciate the concerns that farmers have. I think they should look accurately at the figures. My noble friend makes an important point that some large landowners have been using the APR relief as a tax loophole.
(7 months, 2 weeks ago)
Lords ChamberUnfortunately, I am not nerdy, so I am unable to answer the noble Lord’s question, but I am sure that we can get back to him in writing.
My Lords, some people do not like nuclear power and will not support it, and some do not seem to like any sort of generated energy proposals. But, after 13 years of neglect, it is right that the Government take a view that they will look to reduce pollution in the environment but also keep the lights on.
My noble friend is absolutely right. It is critical that we drive forward our energy policy as a matter of urgency. The last thing we want is not only to have power cuts and insufficient energy but to become too reliant on other countries for our energy all the time. We need to manage our own energy in this country, build the kinds of energy plants we want, work on CCC and nuclear and invest in the future for our long-term energy security.