Agriculture: Capital Investment

(asked on 26th November 2024) - View Source

Question to the Department for Environment, Food and Rural Affairs:

To ask His Majesty's Government what assessment they have made of (1) changes in farmers and growers’ investment behaviour following the autumn Budget, and (2) the consequential impact on the achievement of their economic growth targets.


Answered by
Baroness Hayman of Ullock Portrait
Baroness Hayman of Ullock
Parliamentary Under-Secretary (Department for Environment, Food and Rural Affairs)
This question was answered on 2nd December 2024

As with all businesses impacted by a change in tax, we can expect there to be some changes. However, for most farm businesses where there remains a strong rationale to invest and grow, changes to inheritance tax are unlikely to overwhelm that rationale.

We are continuing to support the farm sector as it moves to a more self-reliant and sustainable sector. That is why we secured the largest budget in this country's history for sustainable food production - £1.8 billion in 2025/26 a part of a total budget of £2.4 billion

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