Agricultural Property Relief and Business Property Relief

Lord Wigley Excerpts

Tuesday 6th January 2026 Lords Chamber

[Lord Livermore (Lab)]

The OBR will cost it precisely in the next EFO. I believe it will now raise approximately £300 million, but the OBR will confirm that in the next round of forecasts.

[Lord Wigley (PC)]

My Lords, I welcome, without reservation, the change made by the Government. The Minister will be aware of the considerable concern that there was among small farmers in Wales and the impact that the uncertainty was having on their sector. In that context, can he also have a look at the threat to that sector from the uncertainty arising from the possibility of imports from Australia and the southern hemisphere, which in a few years’ time could well undermine our domestic sector?

[Lord Livermore (Lab)]

I am grateful to the noble Lord for his support for what we have announced. I absolutely hear what he says about those trade agreements made by the previous Government and I am more than happy to look further at what he asks about.