Dan Tomlinson

Dan Tomlinson

Labour — Chipping Barnet

Speaking in the House of Commons on 5 January 2026

Debate

Agricultural Property Relief and Business Property Relief

Contribution

My hon. Friend makes an important point. If someone has agricultural or business assets worth £2.5 million, for example, they will now pay £300,000 less in inheritance tax than they would otherwise have paid; if they are worth £5 million, they will pay £600,000 less than they would have paid before the changes that we announced last month. The challenge of the proposals from the Opposition parties is that they would provide a £1 million tax cut to an estate worth £10 million. Their priority is clearly giving the very largest estates in this country tax cuts worth millions or even tens of millions, rather than using revenue in a fair way to fund our public services.

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