Rachel Reeves

Rachel Reeves

Labour — Leeds West and Pudsey

Speaking in the House of Commons on 26 March 2025

Debate

Spring Statement

Contribution

With specific reference to agricultural property relief, people will not pay extra tax unless they have a farm worth around £3 million. More than two thirds of farms are not affected at all by the changes in that relief. For those who do pay the tax, it is at half the rate that anybody else pays, and they can pay it, interest-free, over a period of 10 years. That is very different from the inheritance tax bills that anybody else pays.

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