Jon Pearce

Jon Pearce

Labour — High Peak

Speaking in the House of Commons on 4 December 2024

Debate

Farming and Inheritance Tax

Contribution

No, I will not give way at this stage. Let us be clear: only 4% of estates in this country pay inheritance tax. As we have repeatedly heard, these changes will mean that a couple will be able to leave £3 million-worth of estate to their children without paying a penny in inheritance tax. To put that in context, if a couple owned a £3 million mansion, they would be paying £940,000 in inheritance tax.

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