Oral Answers to Questions
Debate between John Cooper and James Murray(4 weeks, 1 day ago)
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James Murray
I have been involved in many debates in this House that the right hon. Gentleman has been a part of as well, and we have set out how the decisions we have taken mean the system coming in from April next year will maintain generous tax reliefs within the agricultural property relief and business property relief system, while also raising revenue in a fair way to support the public finances. That money for the public finances, as I and my right hon. and hon. Friends have said many times today, is crucial to have economic stability and to get our public services back on their feet.
John Cooper
The Chancellor elicited much public sympathy with her recent tearful appearance on these Benches, but over the summer I have had Dumfries and Galloway farmers in tears at the loss of the next generation of farming. A new Centre for the Analysis of Taxation report says that HMRC’s own figures indicate that these changes to taxes are unfair and unbalanced. Will the Minister please think again?
James Murray
The hon. Gentleman is wrong. The CenTax report he refers to is independent analysis demonstrating that, in its opinion, the reforms improve on the current position and are expected largely to meet the Government’s objective. In fact, the report validates the Government’s position.
Oral Answers to Questions
Debate between John Cooper and James Murray(7 months ago)
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James Murray
I hope my hon. Friend will welcome the £200 million investment in the Grangemouth facility, which has already been spoken about today. I hope he will also support the Government’s decision to restore fiscal responsibility to public finances within the tough fiscal rules that the Chancellor set out at the Budget.
John Cooper (Dumfries and Galloway) (Con)
Agricultural and Business Property Reliefs: OBR Costing
Debate between John Cooper and James Murray(8 months, 2 weeks ago)
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James Murray
I thank the hon. Gentleman for raising his constituent’s concern. I do not know the specifics of the case, but more broadly, investment decisions depend above all else on a stable economy and stable public finances. Without the hard work that we have done since taking office to fix the public finances and bring back economic stability, investment would be hampered, and our growth ambitions would not materialise in the way that we are determined to ensure happens.
John Cooper (Dumfries and Galloway) (Con)
There will be a rally on Saturday, and the Minister appears to imagine that this indicates acclamation for his policy. We heard earlier in the week from the hon. Member for Falkirk (Euan Stainbank) and today from the hon. Member for Newcastle upon Tyne Central and West (Chi Onwurah)—both well-known rural areas—that this is all about the landed estates and wealthy people, but I can assure the Minister that the farmers I will speak with in Castle Douglas on Saturday are tenant farmers and family farmers, and they face being put off the land after generations. Is he really suggesting that I should tell them they have nothing to worry about?
James Murray
I am not going to tell the hon. Gentleman what he should say to his constituents, but what I can tell him about the Government’s policy is that we have reserved generous inheritance tax reliefs for people in the situations he describes. I encourage anyone who is concerned to seek advice, to understand exactly how the new rules might apply to them.