Oral Answers to Questions
Debate between Harriet Cross and Rachel Reeves(2 weeks, 6 days ago)
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Rachel Reeves
My hon. Friend’s constituents in Thurrock are right to be angry about the waste and corruption that happened under the previous Government. That money belongs to the British people and in our public services, not in the pockets of fraudsters taking advantage of a national emergency. Tom Hayhoe will leave no stone unturned in investigating the carnival of fraud that the previous Government presided over, including in PPE contracts, where they recommended any attempts to reclaim that money be abandoned. Letting huge sums of taxpayers’ money be wasted would be egregious and I will not tolerate that.
Harriet Cross (Gordon and Buchan) (Con)
The Treasury consistently insists that only 500 farms a year will be impacted by the family farm tax. However, the Central Association for Agricultural Valuers calculates that the real number will be five times higher and will include many farms in my Gordon and Buchan constituency. Who is right: the Treasury or the experts?
Rachel Reeves
We have published the detail of how that money is raised, but the numbers from His Majesty’s Revenue and Customs are very clear: only a quarter of estates will pay any additional tax. At the moment, the vast majority of agricultural property relief is enjoyed by a very small number of very large and very expensive estates. That is not affordable, and it will not continue.
Oral Answers to Questions
Debate between Harriet Cross and Rachel Reeves(1 month, 3 weeks ago)
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Rachel Reeves
I thank my hon. Friend for his question. Since taking office, this Government have been working to reset our relationship with our European friends and neighbours. The Prime Minister recently met the President of the European Commission and agreed to strengthen the UK-EU relationship to address global challenges such as the economic headwinds, geopolitical competition, irregular migration, climate change and energy prices. Improving our relationships will be good for business and good for consumers.
Harriet Cross (Gordon and Buchan) (Con)
I am not going to ask the Chancellor to pre-empt tomorrow’s Budget, although I might actually have some luck if I did, based on current form. Instead, can she confirm to me that she fully appreciates how important agricultural property relief and business property relief are to the farmers and family businesses that do so much to grow local economies across the country?
Rachel Reeves
I recognise the importance of being able to pass on to the next generation the assets people have built up, and we will be setting out more details on all of our tax policies in the Budget tomorrow.