Answer from Hansard

The Exchequer Secretary to the Treasury (Dan Tomlinson)

The reforms to business property relief maintain significant relief for owners of business assets. That is beyond what is available to others and is more generous than at any time under Margaret Thatcher, for example, when the rate of relief was a maximum of 50% on all business assets, including the first £2.5 million. I do not think that Conservative Members would argue that we did not see growth in the private sector while Thatcher was in power.