The debate called by the Conservatives today on Agricultural Property Relief is nothing more than political opportunism and is a side-show from the work that I and other MPs representing rural constituencies are doing to ensure that our farmers are properly supported.
I do get why farmers are worried – I’ve been meeting with many of them and understand they have a range of concerns and challenges, many of which date back many years from before this current Government.
This government is working to support Britain’s farmers and have committed £5 billion to the farming budget over two years – the largest budget for sustainable food production in history. I will be working hard to make sure our farmers’ voices are heard as the Government puts together its transformative 25-year farming roadmap which is the first time that farming in this country will have such a long-term plan.
I understand the particular concerns about changes to Agricultural Property Relief (APR). However, the vast majority of those claiming relief will not be affected and those who are will still be able to pass on up to £3m free of inheritance tax with anything beyond that taxed at half the rate paid by everyone else with payments spread over ten years. I will continue to push for changes to make this change work as it is meant to – supporting small and family owned farms. For example, I believe that it is right that we work with farmers over a certain age for whom succession planning could be a challenge ahead of changes.
I will continue to listen to local farmers and to be a strong voice for them and their interests.
