Jim Shannon

Jim Shannon

Democratic Unionist Party — Strangford

Speaking in the House of Commons on 23 January 2025

Debate

Agricultural and Business Property Reliefs: OBR Costing

Contribution

Sometimes I am absolutely flummoxed—we probably all are—by the Chancellor’s intent to tax working family farms, which we all know will result in the loss of small farms, the sale of the land and a reduction in food security. Now it seems that the OBR agrees that it will not make savings. Will the Minister commit to meeting Cabinet colleagues urgently to remove the sword of Damocles that is hanging above small family farms and hurting the agrifood sector as a whole? I say to the Minister that there is a way forward: increase the threshold from £1 million to £5 million, and family farms will be saved.

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