(3 weeks ago)
Commons Chamber
Joe Robertson (Isle of Wight East) (Con)
Blake Stephenson (Mid Bedfordshire) (Con)
The Government are supporting Northern Ireland through the four city deals, the local innovation partnerships fund, an enhanced investment zone and greater economic stability. Economic activity in Northern Ireland increased by 2.9% over the year to quarter 3, and it has the lowest unemployment in the UK.
The figures are based on the assessment that there are particular requirements for the Scottish islands in terms of services, access to essential care and so on. That is why that exemption has been applied for Scotland. The impact of this measure on trade between GB and Northern Ireland will be very small in light of the overall costs of moving goods and transportation.
Blake Stephenson
While the rise in the agricultural property relief threshold to £2.5 million is a welcome step for farmers, does the Minister recognise the broader economic concern shared by the Ulster Farmers Union that inflation and steadily rising asset values will over time pull more family farms into inheritance tax liability, even when their real wealth and income may not increase?
As the hon. Member will be aware, the Government announced that the allowance for 100% rate relief will be increased from £1 million to £2.5 million. That means that a couple will now be able to pass on up to £5 million tax-free between them, on top of the existing allowances such as the nil-rate band. The president of the Ulster Farmers Union, William Irwin, welcomed the changes. In fact, he said:
“We are in a better position today than we were yesterday”.
(1 year, 4 months ago)
Commons ChamberI welcome my hon. Friend to her place. I am incredibly proud of the Renters’ Rights Bill that we are pushing through Parliament, because too many renters are being exploited by a minority of unscrupulous landlords, unable to challenge bad practices because they could be evicted at any moment. [Interruption.] Opposition Members chunter, but they promised the electorate that and failed to deliver. We will deliver.
Blake Stephenson (Mid Bedfordshire) (Con)
I welcome the hon. Member to his place. We recognise the devastating impact that flooding can have. I know that the flooding Minister visited Bedfordshire in September to meet volunteers and residents. We inherited flood defences in disrepair and behind schedule. We have launched the floods resilience taskforce, and when it comes to the planning reforms needed to deliver the 1.5 million homes this country needs, we will ensure that the right infrastructure is in place and that communities are resilient.