Farming and Inheritance Tax
Debate between Freddie van Mierlo and Jon Pearce(2 weeks, 4 days ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Jon Pearce
I will not give way at this stage. Those estates over the threshold will have a 50% reduction in the amount they pay. We have already heard that the seven-year rule will continue to apply, so farming families will be able to make plans for the future.
Jon Pearce
Sorry, I will not give way at this stage.
This debate has, however, shone an important light on one issue, which I am grateful to the right hon. Member for Orkney and Shetland (Mr Carmichael) for raising: the fact that our farmers are working day in, day out, for very little profit. The question is how we support them to be profitable again. Energy bills are one of the biggest costs farming businesses face. This Government will help bring down those costs through GB Energy and by introducing grid reform to allow farmers to plug renewables into the national grid. We must protect them from being undercut by foreign imports.