Agricultural Property Relief and Business Property Relief

Cameron Thomas Excerpts

Monday 5th January 2026 Commons Chamber

[Dan Tomlinson]

To those families—people with farms and businesses that would have been affected by the lower threshold, but will now be affected less or not at all by the higher threshold—I would say that we have listened. Over recent months, we have heard the concerns that were raised, and that is why we have raised the threshold from £1 million to £2.5 million. That means a couple can pass on up to £5 million of agricultural and business assets tax-free on inheritance. I briefly remind the House that, above that threshold, the tax rate is half the rate that everyone else pays—20% rather than 40%—and that those who pay it will, if they so need, have 10 years to pay it interest-free.

[Cameron Thomas (Tewkesbury) (LD)]

Farmers are among the most robust members of society, yet since autumn 2024 several have spoken candidly with me about the mental health impact of the family farm tax, in an industry that suffers a rate of suicide four times the national average. The changes to the Government’s family farm tax are welcome, but will the Government take this opportunity to apologise to Gloucestershire farmers for 14 months of torment?

[Dan Tomlinson]

We have listened. We have made sure, after the engagement we have had with farmers across the country, their representatives and the representatives of family businesses, that we have come forward with a policy proposal that we, on the Government Benches, now think is balanced. It raises £300 million from the very largest estates and does so in a fair way that means we can continue to fund our public services sustainably.

Oral Answers to Questions

Cameron Thomas Excerpts

Tuesday 9th September 2025 Commons Chamber

[Rachel Reeves]

I thank my hon. Friend for the work that she is doing to help grow the economy in all parts of the country, including Kent and Sussex. The Government have made significant commitments on the expansion of international rail services, and we are working closely with the German and Swiss Governments on direct links between our countries. Work is under way to understand the prospects for expansion of the number of services on the channel tunnel rail link. I absolutely agree that new opportunities at Ashford and Ebbsfleet have huge potential to help grow the economy, giving more opportunities for people in those communities to access good jobs and other leisure opportunities.

[Cameron Thomas (Tewkesbury) (LD)]

T3. The 52 pubs in my constituency provide vital community spaces, yet they tell me that this Government have hit them disproportionately hard with their increases in employer national insurance contributions, on top of soaring energy prices and as yet unfulfilled promises on business rates. Ahead of the autumn Budget, will the Chancellor say what measures she will take to protect our local independent pubs and small businesses?

[Rachel Reeves]

I absolutely recognise that businesses face challenges, but they also have lower borrowing costs because of the five cuts in interest rates, which the Bank of England was able to make because of the stability that we have returned to the economy. It would be good to have a bit more honesty from political parties. If they oppose the national insurance increase, then they oppose the extra money for the national health service. If they stood up and said that, they might get a little more respect and credibility.

Oral Answers to Questions

Cameron Thomas Excerpts

Tuesday 1st July 2025 Commons Chamber

[Catherine Fookes (Monmouthshire) (Lab)]

9. What steps she is taking to help increase economic growth in Monmouthshire.

[Cameron Thomas (Tewkesbury) (LD)]

20. What steps she is taking to help increase economic growth in north Gloucestershire.

[Max Wilkinson (Cheltenham) (LD)]

21. What steps she is taking to help increase economic growth in Gloucestershire.

--- Later in debate ---

[Emma Reynolds]

I welcome what my hon. Friend said. The Government are supporting the rural economy with over £2.7 billion a year for sustainable farming and nature recovery. We are investing £1.9 billion to improve digital connectivity, which will be important to the small businesses and others that she mentioned. As I said to the previous question, we will set out a small business strategy later this year.

[Cameron Thomas]

North Gloucestershire is ready to jump-start economic growth, with its existing advanced engineering and defence industries ready to drive the UK toward economic and defence objectives. Babcock, GE Aerospace, Moog and Safran are already developing world-leading technologies, and the Garden Town project includes a further 100 hectares of employment area. Will the Minister join me in Gloucestershire so we can demonstrate this expertise and the potential for growth on the ground?

[Emma Reynolds]

Defence companies are an incredibly important part of the economy, and the hon. Member will know that we are increasing defence spending to up to 2.6% by the end of this Parliament. It has only ever reached those levels before under a Labour Government.