Agricultural Property Relief and Business Property Relief Debate
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Ben Goldsborough
Main Page: Ben Goldsborough (Labour - South Norfolk)Department Debates - View all Ben Goldsborough's debates with the HM Treasury
Agricultural Property Relief and Business Property Relief
Ben Goldsborough Excerpts(3 days, 22 hours ago)
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Dan Tomlinson
The Government wanted to ensure that the changes that we are legislating for in the Finance Bill in the coming weeks came forward before that Bill was passed. We have continued to listen to farming communities and family businesses. The changes with which we have come forward, including increasing the threshold from £1 million to £2.5 million, coupled with the changes announced in last year’s Budget, will mean that a couple can pass on up to £5 million of agricultural or business assets tax free, which we think is a fair and proportionate way to raise revenue from some of the largest estates in the country.
Ben Goldsborough (South Norfolk) (Lab)
South Norfolk is home to 400 farms, and I put on record my thanks to Will, Nick, David and Deborah, who are some of the farmers have supported me hand in glove over the past 14 months in making representations to the Minister. I welcome these changes, but the biggest threat to family farming in South Norfolk right now is biosecurity risk. I urge the Treasury to pay special attention to avian influenza and African swine fever, so that we can protect those family farms going forward.
Dan Tomlinson
I thank my hon. Friend for the strong representation that he has provided for his constituents since he was elected in 2024, and for raising an important issue. I am sure that DEFRA Ministers are alive to that issue and will continue to have conversations with hon. Members.