Budget: Implications for Farming Communities

Baroness Ritchie of Downpatrick Excerpts

Tuesday 5th November 2024 Lords Chamber

[The Parliamentary Under-Secretary of State, Department for Environment, Food and Rural Affairs (Baroness Hayman of Ullock) (Lab)]

My Lords, we understand farmers’ anxiety at changes to agricultural property relief. However, the vast majority of those claiming relief will not be affected by the changes. The latest data available shows that the top 7% of claims for agricultural property relief in 2021-22 accounted for 40% of the cost of the tax relief, with the top 2% accounting for 22% of the cost. Most families will be able to pass the family farm down to their children, just as previous generations have always done.

[Baroness Ritchie of Downpatrick (Lab)]

My Lords, farmers in Northern Ireland greatly appreciate that my noble friend the Minister has met the devolved Minister on a fairly regular basis to discuss a wide range of issues. When she next meets the Minister of Agriculture, the Ulster Farmers Union and the agricultural producers in the region, will she discuss the need for tax amelioration measures to provide for succession planning, to encourage young people into farming and protect farm families? There is a unique issue in Northern Ireland which needs to be addressed.

[Baroness Hayman of Ullock (Lab)]

As the noble Baroness said, I meet the Minister of Agriculture in Northern Ireland regularly and met the Ulster Farmers Union very recently, as well as the noble Baroness, to discuss these issues, and I know that my officials meet various organisations regularly to discuss them. I will be back in Belfast towards the end of this month and hope to meet the Ulster Farmers Union again shortly. As she pointed out, tax and succession planning is incredibly important. There is an issue with getting young people into farming, and I recommend that people talk to professionals about what is available to them for tax purposes going forward.