James Murray

James Murray

Labour (Co-op) — Ealing North

Speaking in the House of Commons on 23 January 2025

Debate

Agricultural and Business Property Reliefs: OBR Costing

Contribution

The comments in the OBR publication yesterday about older individuals reference a point that has been made since the Budget in debates in this place and elsewhere. We have pointed out that our reform of agricultural property relief and business property relief maintains generous exemptions from inheritance tax; £1 million is subject to relief, and there is the 50% relief beyond that, the existing nil-rate bands, and other exemptions in the system.

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