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The Financial Secretary to the Treasury (Lord Livermore) (Lab)

Speaking in the House of Lords on 6 January 2026

Debate

Agricultural Property Relief and Business Property Relief

Contribution

I am grateful to the noble Baroness. May I first take this opportunity to wish her a belated happy birthday for the weekend just past? I am grateful to the noble Baroness for her support for the measures that we announced shortly before Christmas. It is absolutely right that, following the reforms to the reliefs that we announced in the Budget in 2024, the Government consulted about the reforms with the farming community, as she says, and with family businesses. We have now carefully considered this feedback and have acted, and that was the right thing to do. We have acted to protect more family farms and family-owned businesses, while maintaining a core principle that more valuable agricultural and business assets should make a greater contribution.

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