Budget: Implications for Farming Communities
Lord Morrow Excerpts(2 weeks, 3 days ago)
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Baroness Hayman of Ullock (Lab)
My Lords, I appreciate the concerns that farmers have. I think they should look accurately at the figures. My noble friend makes an important point that some large landowners have been using the APR relief as a tax loophole.
Lord Kennedy of Southwark (Lab Co-op)
We will hear from the DUP Benches now.
Lord Morrow (DUP)
My Lords, is the Minister aware that the average holding in Northern Ireland extends to about 101 acres? In England, it is about 200 acres. Agricultural land at present makes between £12,000 and £22,000 per acre. Then take the farm dwelling sum, between £300,000 and £500,000. If you add those figures up, you get far in excess of £1 million. How can the Minister tell us that some 50%, or maybe 60%—I read somewhere it was 70%—would be caught in this valuation? Surely the farmers, particularly in Northern Ireland, are getting a very poor deal—it must be clearly understood. In England, there are many tenanted farmers; that is to a much lesser extent in Northern Ireland. Many of these farm holdings have been handed down from one generation to another, and that has to be taken into consideration.