PARLIAMENTARY EARLY DAY MOTION
Agricultural Property Relief (31 October 2024)

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.

Sponsored by:
Ann Davies (Plaid Cymru)