Agricultural Property Relief and Business Property Relief Debate
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Lee Dillon
Main Page: Lee Dillon (Liberal Democrat - Newbury)Department Debates - View all Lee Dillon's debates with the HM Treasury
Agricultural Property Relief and Business Property Relief
Lee Dillon Excerpts(3 days, 22 hours ago)
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Dan Tomlinson
We will always fight for the interests of British businesses and British farmers in the deals we strike with countries across the world.
Mr Lee Dillon (Newbury) (LD)
Happy new year, Madam Deputy Speaker. In the last 14 months, constituents in Newbury, which I am proud to represent, have really felt the burden of the unfair family farm tax. I have hosted farmers here in Parliament and invited all parliamentarians to come and meet them, and I am proud that Members—predominantly from the Opposition Benches—have made that effort, and the Government have started to listen. But I have family farms in my constituency that will still have to pay £600,000, and they will have to sell off their farms to pay those tax bills. When the Government table their amendment, will they publish an assessment of those remaining farms and whether it is likely that they will need to be sold off to fit Labour’s tax bills?
Dan Tomlinson
The amendment, which has already been laid before the House, sets out the changes that the Government are making. In the letter that all hon. Members will have received, we set out our estimate that the number of estates we think will be affected will halve, and that about 85% of farming estates claiming APR—sometimes with BPR—will not pay any additional inheritance tax at all as a result of these changes.