Agriculture: Lancashire
The question
To ask the Secretary of State for Environment, Food and Rural Affairs, what assessment he has made of the number of farmers who will be affected by changes to (a) agricultural property relief and (b) business property relief in (i) Fylde constituency and (ii) Lancashire.
Answered by Daniel Zeichner
Assessing the impact of the new Inheritance Tax policy, which comes into force from 6 April 2026, relies on a number of factors such as ownership structure and debt levels. Without such information, which the Government does not hold at that level, area level assessments cannot be made.
This Government is aware that each farm is different, and so we encourage farmers to speak to their tax advisors and agents to understand how these changes may impact their specific situation and how to plan for the future.
As an outcome of the October 2024 Spending Review, we have committed £5 billion in the agricultural budget over the next two years – the biggest ever budget for sustainable food production and nature recovery in this country’s history. This enables us to keep momentum on the path to a more resilient and sustainable farming sector.
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