Future of Farming

Richard Holden Excerpts

Wednesday 4th December 2024 Westminster Hall

[Carla Lockhart (Upper Bann) (DUP)]

I beg to move,

That this House has considered the future of farming.

It is a privilege to serve under your chairmanship, Sir Roger, and to bring this timely and important debate to the Floor of the Chamber. I did not think that it would be being debated at the same time in the other place. However, we will progress.

Farming has long been the backbone of our nation, underpinning food security, providing jobs and delivering significant environmental benefits. The agrifood sector across the United Kingdom contributes £148 billion to the economy and employs over 4 million people, including 462,000 directly in agriculture. It is an industry worth protecting and speaking out for.

Today, I speak not just as a politician, but as someone with farming in my blood—the daughter of a farmer, the wife of a farmer, and the mum of a little boy who dreams of becoming a farmer. The future of farming is deeply personal to me, as it is to many of the 209,000 farm owners across the UK, including 26,000 in Northern Ireland. These people work 17 million hectares of land to feed the nation, and care for the countryside. Their average farm size is 82 hectares, and their contribution to the UK economy amounts to £13.7 billion annually. Yet, they now face an existential threat from the proposed changes to agricultural property relief and business property relief.

[Mr Richard Holden (Basildon and Billericay) (Con)]

The hon. Lady is talking about the direct impact on farmers, but in her opening comments she mentioned the broader agricultural, business and food sectors across the UK economy. Does she share my concern that, whether it is the tractor manufacturers or those who work in the farm shops in my constituency, the knock-on consequences will be huge if the Government’s proposed tax changes get through? They will impact not just the individual family farms themselves, which are the backbone of our economy, but all aspects of our rural and urban economy.

[Carla Lockhart]

I could not agree more: the knock-on impact will be immense.

The Budget’s decision to cap full inheritance tax relief at £1 million, with a 20% charge above that, will devastate family farms. These changes know no boundaries and will affect countless small and modest family farm businesses. Independent analysis shows that up to 75,000 farming taxpayers will be impacted over a generation—five times the Government’s initial estimate. In Northern Ireland alone, the Department of Agriculture, Environment and Rural Affairs predicts that one third of farms and 75% of dairy farms will be hit the hardest. These figures are not plucked from the sky; these are real, evidenced figures from DAERA. Farmers face the grim prospect of selling off prime agricultural land, probably to big businesses that certainly do not want to use it for food production. This death tax will erode our food security and end future generational farming.

Three weeks ago, at the Eikon centre in Lisburn, I stood in front of 6,000 farmers who had braved Storm Bert to voice their concerns. Their message was clear: stop the family farm tax grab. The Government must listen. If they proceed with this policy, it will not only destroy an industry that feeds the nation, but tarnish their legacy, with the destruction of rural communities and livelihoods. When we are asked about this Government’s legacy thus far, sadly farmers and pensioners come to mind.