Agricultural Property Relief

Early day motion 352, tabled 31 October 2024 by Ann Davies (Plaid Cymru). Signed by 6 members.

That this House condemns the decision to curtail Agricultural Property Relief in the Autumn Budget; acknowledges that new rules from April 2026 will see farm assets over £1 million face a 20% tax rate; is concerned that this will put increased pressure on family farms and tenant farmers and reduce the amount of farm land; argues that the proposal threatens food security and places the financial burden onto farms already facing high costs and low income; notes that the move has been condemned by the National Farmers Union, the Farmers’ Union of Wales, the Country Land and Business Association (CLA) and the Tenant Farmers Association; further notes that the CLA has estimated that the change puts 70,000 of farming business across the UK under threat; highlights that family farms are the bedrock of our rural economy, shape our environment and sustain our communities and culture; and calls on the UK Government to reconsider this decision.

Signatures by party: Plaid Cymru 4, DUP 1, Scottish National Party 1.