Oral Answers to Questions
Debate between Hilary Benn and Mike Wood(2 weeks, 3 days ago)
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Mike Wood (Kingswinford and South Staffordshire) (Con)
The Northern Ireland Farming Minister estimates that three quarters of dairy farms in Northern Ireland could be hit by inheritance tax following the Chancellor’s disastrous changes. Given the particularly high cost of agricultural land compared with farming incomes in Northern Ireland, does the Secretary of State recognise that the Budget is a direct threat to family farms and thousands of livelihoods across Northern Ireland?
Hilary Benn
The figures the hon. Gentleman just referred to do not reflect the Treasury’s assessment of the number of farms that will be affected, which is based on claims submitted in the past. I understand the farming industry’s concerns, but the Treasury is clear that, first, it will not hit the majority of farms and, secondly, we have to do something about very big landowners who buy a lot of land to avoid inheritance tax.
Oral Answers to Questions
Debate between Hilary Benn and Mike Wood(1 month, 3 weeks ago)
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Mike Wood (Kingswinford and South Staffordshire) (Con)
People throughout the United Kingdom will be disgusted if former terrorists such as Gerry Adams receive compensation from the taxpayer because of Labour’s decision to repeal the legacy Act without putting something in its place. Will the Secretary of State finally commit himself to legislating immediately to prevent that from happening?
Hilary Benn
I refer the hon. Gentleman to the answer that I gave a moment ago.