Inheritance Tax

Caroline Nokes Excerpts

Wednesday 14th October 2026 Commons Chamber

[Madam Deputy Speaker (Caroline Nokes)]

I remind all Members planning to speak in this debate that it is a courtesy of the House that they return for the wind-ups. I inform the House that the Speaker has not selected the amendment.

--- Later in debate ---

[Gareth Snell]

On a point of order, Madam Deputy Speaker. I seek your counsel. The hon. Member for Arundel and South Downs (Andrew Griffith) has just given a rather long speech about the benefits of family-owned businesses, but he failed to declare that one of the biggest beneficiaries of his policy would be JCB, which just happens to have given him £30,000 over the last year. Should that matter have been declared before the speech was made?

[Madam Deputy Speaker (Caroline Nokes)]

Can I—[Interruption.] If the hon. Member is going to make a point of order, he might at least listen to the response. As he ought to know, as an experienced parliamentarian, that is not a matter for the Chair. He has, however, made his point.

[Kit Malthouse]

On a point of order, Madam Deputy Speaker. I need to offer you an apology. When I asked my question, I should have declared, or drawn attention to, my entry in the Register of Members’ Financial Interests. I am the proud founder of two businesses, which I hope in time to pass on to my children, if the Labour party does not get in the way.

[Madam Deputy Speaker]

As the right hon. Member will know, that is not a matter for the Chair, but I thank him for putting it on the record.

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[James Murray]

I was going to say that I thank the hon. Gentleman for his question, but I am not sure it was meant in that tone. Being in government is about taking the right decisions for the future of the country, and I know that when taking decisions in the Treasury, the most important thing to start with is to ensure that fiscal stability and responsibility are the bedrock of all our decisions. If we look at the decisions that we as a Government have taken, and at the commitment of the Chancellor and Prime Minister, no one can be in any doubt that we will never return to the recklessness of the hon. Gentleman’s party in government.

Labour Members know that to provide breathing space for families and businesses, and to fix our economy and country for the long term, fiscal discipline must underwrite every promise we make. That is why we will continue to meet our fiscal rules, with a buffer against uncertainty. We will support good growth in every postcode by getting power out of Westminster, and we will drive investment to boost innovation and create jobs. That is how we will bring back hope across Britain, not through the fantasy economics and unfunded spending commitments of the Conservative party but with a plan to unlock potential in every part of our country, so that wherever someone lives, they and their local community can thrive. I oppose the Opposition motion.

[Madam Deputy Speaker (Caroline Nokes)]

I call the Liberal Democrat spokesperson.

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[Andrew Lewin]

I am grateful to my hon. Friend, who speaks powerfully and with great experience on these issues.

I will draw my remarks to a close by returning to the proposition put forward by the Conservatives today. I am sad to say that they are a party retreating to their comfort zone. They could have come to the Chamber today and said, “Let’s have a debate about how we invest in defence or public services, or about new ways to support businesses”, but I am afraid that their choice and the choice made by their leader is a giveaway to the top 5% of estates in this country. I am a meritocrat. I want a society that is less reliant on family wealth, not more—a society that maximises opportunity for all. I am sorry that that is not a vision that the Conservative party seems to share.

[Madam Deputy Speaker (Caroline Nokes)]

With an immediate six-minute time limit, I call Patrick Spencer.