Agricultural Property Relief Debate
Full Debate: Read Full DebateDepartment: Department for Work and Pensions
Roz Savage
Main Page: Roz Savage (Liberal Democrat - South Cotswolds)Department Debates - View all Roz Savage's debates with the Department for Work and Pensions
(2 days, 23 hours ago)
Westminster HallRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Westminster Hall is an alternative Chamber for MPs to hold debates, named after the adjoining Westminster Hall.
Each debate is chaired by an MP from the Panel of Chairs, rather than the Speaker or Deputy Speaker. A Government Minister will give the final speech, and no votes may be called on the debate topic.
This information is provided by Parallel Parliament and does not comprise part of the offical record
Ann Davies
As someone who has lived and worked the land all my life, I totally agree with the hon. Member. It is something that is within our soul; it is not just a trading issue.
Dr Roz Savage (South Cotswolds) (LD)
I commend the hon. Lady on her excellent speech. Given that we are asking farmers, who are already under so much emotional and financial pressure, to be even more active participants in helping us to mitigate climate change and restore nature, does she agree that it is not the time to add to their stress and risk losing their deep knowledge of their land, which has been passed from generation to generation?
Ann Davies
I totally agree. Nobody understands those fields better than the farmer who has worked that land. They know where those wet corners are and they know where they should not tread during certain times. The sustainable farming scheme—the SFS—is coming out in Wales next year, and it is about nature restoration, so I absolutely agree.
Estate agents in west Wales are already seeing increased investor interest in purchasing farms following the autumn Budget. Selling land to pay an inheritance tax bill will inevitably hit tenant farmers because the £1 million threshold will hit asset-rich estates. Around 30% of land in Wales is farmed under some sort of tenancy agreement and, although some is local authority-owned, much is owned by private landlords. The Tenant Farmers Association anticipates that more insecure agricultural tenancies will be terminated to allow land to be sold to avoid taxes on death. Other landlords are reducing the lengths of term offered to tenants, who were expecting longer leases, so that farms are more readily sellable in case of tax change.