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1,562 recent contributions in Hansard
HANSARDFinance Bill (First sitting)It is a pleasure to serve on the Committee with you as the Chair, Mr Mundell. Clauses 1 to 3 impose a charge to and set the rates of income tax for 2025-26, and clause 4 maintains…28 Jan 2025HANSARDLoan Charge: Independent ReviewAt the Budget, the Government announced that they would commission an independent review of the loan charge to help bring the matter to a close for those affected while ensuring…23 Jan 2025HANSARD Agricultural and Business Property Reliefs: OBR CostingThe Government are committed to delivering the reforms announced in the Budget. We have carefully considered their impact, and designed the policy to provide generous exemptions…23 Jan 2025HANSARD Agricultural and Business Property Reliefs: OBR CostingThere still seems to be confusion among Opposition Members about what the OBR publication set out. It reiterates the costings that were published at the time of the Budget, on 30…23 Jan 2025HANSARD Agricultural and Business Property Reliefs: OBR CostingThe comments in the OBR publication yesterday about older individuals reference a point that has been made since the Budget in debates in this place and elsewhere. We have pointed…23 Jan 2025HANSARD Agricultural and Business Property Reliefs: OBR CostingThe OBR’s publication yesterday sets out the costings that were in the October Budget. There is no difference between the costings set out in October and what the OBR set out…23 Jan 2025HANSARD Agricultural and Business Property Reliefs: OBR CostingAt the autumn Budget, we took difficult decisions on tax, welfare and spending that were necessary to restore economic stability, fix the public finances and support public…23 Jan 2025HANSARD Agricultural and Business Property Reliefs: OBR CostingThe way to calculate the impact of changes to inheritance tax policy is to look at the inheritance tax claims that have been made, and that is what we have used as the basis for…23 Jan 2025HANSARD Agricultural and Business Property Reliefs: OBR CostingI think there may be some confusion on the Conservative Benches about what the OBR data shows. The data published by the OBR yesterday refers to exactly the same costing as was…23 Jan 2025HANSARD Agricultural and Business Property Reliefs: OBR CostingI am not going to tell the hon. Gentleman what he should say to his constituents, but what I can tell him about the Government’s policy is that we have reserved generous…23 Jan 2025HANSARD Agricultural and Business Property Reliefs: OBR CostingMy hon. Friend is absolutely right. The party opposite—in fact, the parties opposite—routinely support the Government’s spending and investment decisions but will not support any…23 Jan 2025HANSARD Agricultural and Business Property Reliefs: OBR CostingThe policy that we are implementing includes generous provisions to protect family farms—the £1 million entire relief from inheritance tax for agriculture and business property…23 Jan 2025HANSARD Agricultural and Business Property Reliefs: OBR CostingThere certainly is evidence that the current inheritance tax system has caused people to use these reliefs for tax planning and to avoid inheritance tax bills. My hon. Friend…23 Jan 2025HANSARD Agricultural and Business Property Reliefs: OBR CostingThe OBR document published yesterday refers to the level of uncertainty associated with this policy, which is exactly what was set out at the time of the Budget, and it is a…23 Jan 2025HANSARD Agricultural and Business Property Reliefs: OBR CostingI thank the hon. Gentleman for his question, but I think it was based primary on the OBR publication yesterday. I reiterate the point I have made several times now: that OBR…23 Jan 2025HANSARD Agricultural and Business Property Reliefs: OBR CostingThe OBR’s allusion yesterday to a degree of uncertainty is exactly the same as what it said at the time of the Budget. The costing is exactly the same as what it published at the…23 Jan 2025HANSARD Agricultural and Business Property Reliefs: OBR CostingWe recognise that when the Conservative party was in government, it got it badly wrong. The country decided to change course, which is why they elected us into government to fix…23 Jan 2025HANSARD Agricultural and Business Property Reliefs: OBR CostingObviously, the Government put the highest priority on food security. That is why our policies set out to support it, and the farming sector more widely. The policy is one of many…23 Jan 2025HANSARD Agricultural and Business Property Reliefs: OBR CostingSupporting the rural economy, public services and investment right across the country is part of Labour’s national mission to get the economy growing, but the prerequisite for…23 Jan 2025HANSARD Agricultural and Business Property Reliefs: OBR CostingAs I set out earlier, the need to reform business property relief is as strong as the need to reform agricultural property relief, in order to have stable public finances and a…23 Jan 2025