Finance (No. 2) Bill

Debate between Alistair Carmichael and Dan Tomlinson

2nd reading
Tuesday 16th December 2025 Commons Chamber

[Dan Tomlinson]

I, too, welcome that change in the Budget, and I commend my colleague the Economic Secretary to the Treasury for the work she has been doing on that—I am sure we will hear more about it in her closing remarks.

[Mr Alistair Carmichael (Orkney and Shetland) (LD)]

Will the Exchequer Secretary give way?

[Dan Tomlinson]

I will give way, and then I will try to make some progress, so that other Members can get in.

--- Later in debate ---

[Mr Carmichael]

I am grateful to the Exchequer Secretary for giving way. On the point of growth, he should be aware that, since the Budget last year, 49% of farm businesses have paused or cancelled planned investment, 10% have already downsized operations, and 21% intend to do so before next April. What are the Government going to do to restore confidence in farming to invest? Without that, there is no growth in the rural community.

[Dan Tomlinson]

I thank the right hon. Member for his point. We do want to see farming businesses in rural communities and businesses up and down the country investing and growing for the future. On the changes to agricultural property relief and business property relief, it is worth noting that the statistics suggest that up to 375 estates a year will be affected—a small proportion of the overall number—and that number has come down from 520, as was forecast at the previous Budget.