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Hilary Benn

Hilary Benn

Labour — Leeds South

Speaking in the House of Commons on 27 November 2024

Debate

Budget

Contribution

The Treasury has conducted an analysis of the overall number of farms that it thinks will be affected. It is important that people look at all the arrangements that we have put in place, including how, as the hon. Gentleman will know, individuals can pass £1.5 million on to family members and couples up to £3 million when all the allowances are added together, as well as interest-free payments over 10 years. Of course, land transferred seven years before death can go to children with no inheritance tax paid. I should have congratulated the hon. Gentleman on his double-hatted appointment: he is shadow Chancellor of the Duchy of Lancaster as well as shadow Secretary of State. He will now have many a merry conversation with himself about the Windsor framework.
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