Clause 1

Jim Shannon Excerpts

Monday 12th January 2026 Commons Chamber

[Dan Tomlinson]

I thank the right hon. Member for giving me time to top up my glass of water—and for his intervention. The Government have been very clear in our approach since we took office. We needed to raise revenue to fund public services, and we have been consistent in our objectives in that regard. We also needed to get borrowing down, and borrowing is falling in every single year of this forecast because of the decisions we have taken. I believe it is the fastest reduction in borrowing in the G7, bringing back economic stability and allowing the Bank of England the space to cut interest rates, as it has already done six times since the general election.

The Finance (No. 2) Bill will deliver on the choices that the Government have made, and we will renew public services. We have taken the decision to lift hundreds of thousands of children out of poverty, to get more people into work and, crucially for our long-term growth prospects, to maintain the highest level of public investment for 40 years, all while keeping borrowing this year as a share of GDP to its lowest level in six years and doubling our headroom against our fiscal rules.

[Jim Shannon (Strangford) (DUP)]

I thank the Minister for what he is putting forward. The OBR has said that some £55.5 billion will be raised, but the money is not coming from millionaires. It is coming from lower and middle-income families, which means that some 4.8 million more individuals will be paying the higher rate and some 600,000 more individuals will move into the additional rate band. How, in all honesty, can we help those in the lower and the middle brackets? The millionaires can afford it; the others cannot.

[Dan Tomlinson]

One way we are seeking to support everyday working people and families across the country is by making the decisions—many of them have been opposed by the Opposition, I must say—to raise taxes on those with the very largest estates and the very highest wealth. In fact, over this Parliament, as a result of the decisions made in the Budget in 2025 and the Budget in 2024, we will be raising an additional £10 billion of revenue from wealth and from those with the greatest wealth, which enables us to minimise our ask of everyday families when it comes to the topic we will be debating later in this sitting.

Turning in detail to the clauses we are debating, clauses 1 to 3 are on income tax, which is the largest source of Government revenue and helps to fund the UK’s schools, hospitals and the other essential services we rely on. In the coming year, it is expected to raise £359 billion. Each year, the Government have to legislate to charge and to set the rates of income tax. The rates of income tax are not being changed by this Bill; we are confirming that they will remain the same.

Clause 1 imposes an income tax charge for the coming financial year. Clause 2 sets the main rates of income tax at 20%, 40% and 45%. These will apply to non-savings, non-dividend income taxpayers in England and Northern Ireland. Income tax rates in Scotland and Wales are set by their respective Parliaments. Clause 3 sets the default rates at the same levels as the main rates—namely 20%, 40% and 45%. These rates apply to the non-savings, non-dividend income of taxpayers who are not subject to the main rates of income tax, the Welsh rates of income tax or the Scottish rate of income tax. Income tax is a vital revenue stream for our public services, and clauses 1 to 3 ensure that it will continue to be so in the year ahead—2026-27.

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Clauses 4 to 8 will, together, implement hikes in the rate of income tax on income from dividends, savings and property in the years to come.

[Jim Shannon]

A valid point that my constituents have brought to my attention is that if they pay the higher rate of tax, tax on the interest from savings rises to 40%. Those who scrimp and save and put their money away for a rainy day will be penalised. Does the shadow Minister agree that that is absolutely immoral and very wrong?

[Gareth Davies]

I agree. We are trying to create a savings culture. We are trying to get people to take responsibility, and to put their income away for a rainy day and for their retirement. As I will go on to say, the Opposition’s position is that the Bill does not achieve that; in fact, it does the very opposite.

As I was saying, clause 4 increases the ordinary and upper rates of income tax charged on dividend income by 2%, a fact the Minister seemed to miss out in his opening remarks. The income tax rate hike will apply from the tax year 2026-27. Clause 5 sets the savings rate of income tax for the tax year 2027-28 two percentage points higher than it is this year, and than the rate set in the Bill for 2026-27.

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[Vikki Slade]

I will be honest and say that, not having been to university, I do not know the details of the different groups. My students are all very recent graduates, so they went in knowing that they would have enormous debt and recognising that they would be more than £50,000 in debt, with probably no prospect of ever paying it off. I do not think they went in realising that they would get such a bad deal when they were at university, with eight hours of contact time a week and PhD students doing their lectures, rather than actual lecturers, some of whom cannot even speak English and are here only for their visas. Students are having a really rough time, and this measure is just rubbing salt into the wound.

[Jim Shannon]

I have often said in this Chamber in the last three or four years that the Government should sponsor medical students—those working to be doctors or whatever the position may be in the medical service—and ensure that they do three or four years in the health service. Wales does that, and it works. I have a constituent from Newtownards—we will never get her back in Newtownards, because she has fallen in with a Welshman; she will stay there and marry him, and that is it—who had to stay for three years, but she got all her student fees paid. Is that not what Government should be doing to make it easier for young students and to retain them in the health service?

[Vikki Slade]

I always value the interventions of the hon. Member. As the aunt of a young GP, Bethan, who has more than £100,000-worth of debt, I think it is ridiculous that our young people are being saddled with this situation. I have constituents who have deliberately gone to study in Wales so that they are able to get that benefit. It is time for us to look collectively at analysing the cumulative impact of the issues faced by our young, aspirational adults, because we will see more of them deciding to go abroad, and we desperately need our home-grown talent to stay.

Thirdly, I turn, as most Members have done, to pensioners. The older age group will have been pleased to hear that they are due to be exempted from the tax threshold if their only income is the state pension, but two constituents—Colin from Wareham, who is a regular correspondent, and John from Lytchett—have written to suggest that the Chancellor may have inadvertently misled Martin Lewis. I will not use their other accusation, as I will get into a lot of trouble. One said that most pensioners are expected to survive on a weekly state pension that is four times lower than the average wage, and that mandating that they be taxed will plunge many older people into desperation and poverty. They have suggested that it is not quite accurate that the state pension alone will not be taxed—I am using my words very carefully—so can the Minister assure me and my constituents, like others, that from April, those with no income other than the state income and modest savings will pay no income tax, particularly because there appears to be nothing in the Bill about that?

Finally, given that millions of people with tiny private pensions and, in particular, many pensioners will be dragged into tax, will the Minister consider the Lib Dem proposal for a pensioners’ “red phone” to ensure that they do not spend hours hanging on the telephone?

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[Carla Lockhart]

I rise to speak about the changes to agricultural property relief and business property relief in clause 62 and schedule 12. I do so having stood shoulder to shoulder with farmers from my constituency of Upper Bann, from across Northern Ireland and from across this entire United Kingdom; they have lobbied, protested and spoken with one voice in defence of their livelihoods and their family farms since the tax grab was announced. It has been my greatest honour to come alongside and fight this battle with them. It is because of their persistence that we have seen any movement at all from this Government.

While I acknowledge that the increase in the inheritance tax threshold to £2.5 million represents a concession, it is a hard-won one. It was not offered freely; it was forced by the strength and unity of the farming community and by the courage of the minority on the Back Benches of the Labour party. Even so, it remains wholly insufficient and fails to address the fundamental unfairness that remains embedded in the Bill.

Ultimately, we on the DUP Benches—indeed, Members rights across the Ulster Benches—want to see this policy scrapped in totality. That is why I support amendment 3 and the linked amendments 4 to 23, which would delay the commencement of these changes to 1 March 2027. Farming families planned succession responsibly and in good faith under the rules as they stood; changing those rules mid-stream is unjust and destabilising, and it undermines confidence across the entire sector.

[Jim Shannon]

I commend my hon. Friend for all that she has done in this campaign; she was very much to the fore. I also commend the Ulster Farmers’ Union on the stance that it took—it never gave in and stood its ground the whole way through, as did the NFU across Scotland, England and Wales. She has farmers in her constituency, as I do in mine, and some 25% of farmers who own farms in Northern Ireland will not benefit from the changes. Some of those farmers are my neighbours, and they have been farming for generations. Does my hon. Friend agree that, when it comes to this legislation, the Minister is duty-bound to meet the Ulster Farmers’ Union to discuss these matters?

Road Safety Strategy

Jim Shannon Excerpts

Thursday 8th January 2026 Commons Chamber

[Lilian Greenwood]

I thank my hon. Friend for her words and for the incredible work she has done to advocate on behalf of those who want safer streets and pavements and to raise the particular case of John and Karen Rowlands. I would be very happy to see their response to the motoring offences consultation.

[Jim Shannon (Strangford) (DUP)]

I thank the Minister very much for the statement; there is much positivity in it. Anyone who has to declare a health issue on their driving licence will know that it becomes much more complex—I declare an interest as a type 2 diabetic. They need a full MOT and an eyesight test before they get their driving licence renewed, but that does not mean that they cannot drive; the point I am trying to make is that it has to be regulated. The current waiting time for medical tests and feedback for driving licence renewals to be processed is 16 weeks. I know two lorry drivers who had to wait six months before they got their licence due to their health changes, so they were not able to work. What plans are in place to address this issue and to speed up the process?

[Lilian Greenwood]

The Roads and Buses Minister, my hon. Friend the Member for Wakefield and Rothwell (Simon Lightwood), who has responsibility for the Driver and Vehicle Licensing Agency, is sitting next to me. I recognise that there have been delays in dealing with some medical licensing. The DVLA is introducing a new IT system, which will certainly help to speed up the licensing investigations that the hon. Gentleman talks about.

Rural Fuel Duty Relief

Jim Shannon Excerpts

Wednesday 7th January 2026 Westminster Hall

[Jim Shannon (Strangford) (DUP)]

Thank you very much, Ms Furniss, for again inviting me to speak early. It is a real pleasure to serve under your chairship. I also thank the hon. Member for North Devon (Ian Roome) for securing this debate on a very important issue.

When we look at the price of petrol at the pumps and consider that the price per barrel has dropped significantly, the question we all ask is when the dividend will come down to those who drive on the roads of the United Kingdom. Perhaps the Minister can put that question directly to the firms responsible.

This is an important issue, and it is clear that there are stipulations within the current legislation that do not extend to other rural parts of the United Kingdom. Nevertheless, I am here today to support the hon. Member for North Devon, who is renowned for being assiduous and committed on behalf of his constituents—well done to him.

There is a strong case for extending the provision of the rural fuel duty relief scheme to some rural parts of Northern Ireland that have similar problems to those referenced by the hon. Member for Argyll, Bute and South Lochaber (Brendan O’Hara). Just as in North Devon, a considerable number of areas of counties such as Fermanagh, Armagh and Down are sparsely populated. Furthermore, residents in these areas rely heavily on private vehicles because public transport is extremely limited. I am contacted weekly by constituents regarding rural bus services, so this issue is real and is felt throughout many areas in Northern Ireland.

Historically, we have witnessed a significant fuel price difference between Northern Ireland and the Republic of Ireland, sometimes as much as 15p to 25p per litre. There are times when rural Northern Ireland has significantly higher fuel prices, and families who live close to the border travel into the Republic of Ireland to get fuel as it saves them so much money. People in rural areas that do not have such access cannot do that.

I support local, and I always have. I live in a rural section of my constituency, too. I choose to support local businesses when buying fuel, rather than going to the likes of Asda where the fuel might be cheaper. Independent rural businesses have no choice but to charge more, given that they are in less populated areas. I believe there is a duty on those who can to support their local independents.

Fuel is a huge expense that many families and individuals are not able to avoid. The hon. Member for North Devon made a point about the 5p a litre rebate simply not stretching as it needs to. He clearly outlined that case, and the Minister will perhaps listen. It has not increased in line with inflation since 2010, losing around 35% of its actual value. There is no doubt that a review is needed to ensure that rural drivers across the United Kingdom of Great Britain and Northern Ireland can benefit.

I am conscious that other hon. Members wish to speak, so I will not go on too long. Lower fuel costs can achieve better access to education, healthcare and services for rural residents who should not be left behind. At a time when money is tight and so many feel the stretch, there is more to be talked about and more that we can do. Again, I urge the Minister to engage with his counterparts to protect rural drivers in Northern Ireland as well as on mainland UK. The same benefits should apply to all rural areas of this great United Kingdom of Great Britain and Northern Ireland.

Finance (No. 2) Bill

Jim Shannon Excerpts

2nd reading
Tuesday 16th December 2025 Commons Chamber

[Alison Taylor (Paisley and Renfrewshire North) (Lab)]

It is a pleasure to contribute to this important debate. Members on both sides of the House have eloquently set out their views on the provisions of this Budget. From my own experience of running a small business, I empathise with entrepreneurs working hard to build something, to employ people and to be willing to take on the risk of building a business. In my constituency, as in many others, small businesses are an important part of the local community. Obviously, they provide a source of local employment. They make our high streets into destinations. Many of them lend their expertise to local charitable and social organisations in the community, including local sports teams and volunteer organisations.

Paisley and Renfrewshire North benefits from the generosity of local businesses in lending expertise, making donations or providing sponsorship. This Budget provides a sure foundation for the services that our entrepreneurs need to establish their business. We need a firm foundation of laws, police to enforce them and courts to oversee the process. We need transport infrastructure and public transport by which workers and customers can get to work places or shops and deliveries can be made.

[Jim Shannon (Strangford) (DUP)]

One of the concerns that probably all of us in this Chamber have, including the hon. Lady, is the squeeze of the middle class and the working class. Many of my constituents have told me—I wonder whether her constituents have also told her—of their concern that that squeeze is going to be felt even more. The people who are paying the most are the working class and the middle class, who cannot afford it.

[Alison Taylor]

I thank the hon. Gentleman for his point. We need a balance about fairness, and there are a lot of things in this Budget that will balance things out in the round, including all the investment in infrastructure. In Scotland, and in my constituency, that is really important for driving economic growth.

We need a workforce with the education to produce our goods and services and to drive our business ecosystem forward. This Budget sets a fair balance between taxes and services, a fair balance between benefits and responsibilities, and a fair balance between meeting immediate needs and investing in the future. I know that people are still suffering the hangover from the last Government, and I hope that they will start to really feel the benefits of recovery from this Budget.

Last week I was at the Paisley Christmas market. I expect it is quite like markets up and down the country: a mix of established local businesses and young and family entrepreneurs testing out a business idea, or making Christmas gifts or treats for a little extra income. In 2026 some of those stallholders will grow their businesses locally. Some will be taking steps in wider markets and new products, and my constituency of Paisley and Renfrewshire North is a suitable place to do that. Recently named Scotland’s town of the year, Paisley has a supportive infrastructure for new and growing businesses. New net zero commercial property developments across my constituency are making it one of the most welcoming places in the country to locate or grow a business. This Budget gives them a firm foundation on which to build.

The Budget’s demonstration of the Government’s commitment to fiscal responsibility is keeping borrowing costs down and bringing much-needed stability to the economy. In education, we are focusing on skills and increasing the availability of apprenticeships. We are negotiating exciting trade deals across the world, attracting important new orders for ships to be built on the Clyde and so much more.

I am in no doubt that much more still needs to be done, and I look forward to what my right hon. Friend the Chancellor of the Exchequer and colleagues across Government can achieve in 2026.

OBR: Resignation of Chair

Jim Shannon Excerpts

Wednesday 3rd December 2025 Commons Chamber

[James Murray]

The Government take this matter very seriously indeed and will move urgently to take forward that recommendation of the report, working with the National Cyber Security Centre. Cyber-security is an important matter for the OBR, and indeed for all Government Departments and bodies all year round, but the forecast is especially market sensitive, so it is particularly important to ensure that it is not published prematurely. That is why we take so seriously what happened last week, what seems to have happened in the spring, and what may even have happened at previous fiscal events.

[Jim Shannon (Strangford) (DUP)]

The OBR’s assessments have an incredible impact on households and businesses in Northern Ireland, and indeed across the whole United Kingdom. Can the Minister please outline what steps will be taken to ensure full transparency around this resignation and to safeguard trust in the OBR’s future work, so that public confidence in our economy is in no way undermined?

[James Murray]

The hon. Gentleman is absolutely right to point out the importance of trust, and not just in the economy but in the public finances. In the Government’s view, the OBR’s role is a critical part of that trust. It is because of that role that the OBR plays in our robust and transparent fiscal framework that we take the premature release of this information so seriously and are following up the matters it raises so urgently.

Office for Budget Responsibility Forecasts

Jim Shannon Excerpts

Monday 1st December 2025 Commons Chamber

[James Murray]

Can the hon. Gentleman tell us why he backed Liz Truss for leader?

[Jim Shannon (Strangford) (DUP)]

The Chancellor announced that her plans aim to fund public services, avoid austerity and invest for the future, portraying a positive future and spending that seems manageable. Meanwhile, the OBR forecasts that if borrowing increases in the short term, it could have a potential impact on future spending in terms of welfare and debt interest, which could erode the economy. What steps will the Treasury take after the Budget to ensure that, through the Chancellor’s plans, we are not sacrificing long-term stability?

[James Murray]

Long-term stability is at the heart of the fiscal rules that the Chancellor introduced at the Budget last year, which were met at the spring statement earlier this year and were met again at the Budget last week. As many hon. Members have mentioned today, the fact that we are meeting those fiscal rules with far greater headroom—£21.7 billion in this Budget—gives us greater stability, helps to bring down the costs of Government borrowing and protects us from future shocks.

Budget: Press Briefings

Jim Shannon Excerpts

Monday 17th November 2025 Commons Chamber

[James Murray]

The hon. Gentleman will be aware of the Government’s red lines on not rejoining the customs union. I can reassure him that, in approaching this Budget, the Chancellor’s commitment to her fiscal rules will ensure that we prioritise having extra resilience in terms of headroom, reduce inflationary pressures and get the costs of borrowing done.

[Jim Shannon (Strangford) (DUP)]

Last week, VAT was to increase; this week, it is not. Pensions increases were to feature in the Budget; then they were not. Income tax was to feature; then it was not, and then it was again. The one thing that we are sure of is that retailers faced £7 billion in extra costs from the 2024 Budget, with employers responding by increasing prices and slashing jobs. How are the Government and the Chancellor going to breathe life into our high street and not sound the death knell for struggling small businesses? There is a very real fear that this Budget will bring a different kind of Black Friday for businesses across the UK in the form of closing down sales, which can never be allowed to happen.

[James Murray]

It does not count as me engaging in speculation if I assure the hon. Gentleman that, as we have already preannounced, we will set out our new business rates multipliers at the Budget, with permanently lower business rates for retail, hospitality and leisure businesses, in order to help high streets across the country. That is a really important measure for us to take to support those businesses; more widely, however, it fits within the economic stability that we will provide, which is so important for businesses. That is why, as well as meeting our iron-clad fiscal rules, it is so important that we ensure that the public finances are more resilient, reduce inflationary pressures and get the costs of borrowing down.

Taxes

Jim Shannon Excerpts

Wednesday 12th November 2025 Commons Chamber

[Sir Mel Stride]

I am surprised that the hon. Gentleman would follow up what was not the strongest first question with that.

The Government are naive enough to think that by simply buying people off with no strings attached, the problem would go away. It is like feeding meat to the wolf: when the wolf is fed meat, it will come back to the door the next day, and that is precisely what has happened here. Industrial relations are not improving at the moment. We have various unions in the public sector threatening to strike, including in the NHS, where the hon. Member for St Austell and Newquay (Noah Law) started in his first question.

Where has all this led? It has led to lower growth. No matter how much those on the Front Bench may trumpet increased growth, the reality is that growth per capita—[Interruption.] The hon. Member for Bishop Auckland (Sam Rushworth) says it is the highest in the G7, but our growth per capita is the second lowest in the G7. What matters is growth per capita, because that is what drives an improvement in living standards. [Interruption.] I have more bad news for the hon. Gentleman, who continues to chunter from a sedentary position: the IMF says that growth per capita will deteriorate even further next year and be the lowest in the G7.

[Jim Shannon (Strangford) (DUP)]

I commend the shadow Chancellor and the Conservative party for bringing forward this debate. Is he aware of the stat that the average British family is as much as £15,000 poorer than they were five years ago? The biggest increases have been in energy and food, of course, and while there have been wage increases, all that has been swallowed up by the cost of living. Does the shadow Chancellor share my concern for middle and working-class families, who are worse off now than ever before, including those in my constituency, that any tax increases from the Labour party will push them towards the poverty line? It could mean that some of them will be unable to pay the bills that they are just about paying at the moment.

[Sir Mel Stride]

I agree. Of course, higher taxes are bearing down on living standards, but so is inflation. We have the highest level of inflation in the G7 and are forecast to have the highest in the G7 next year, too. Within that sits food inflation, which is running way above the headline rate of inflation. Who does that impact the most? It impacts the very people that Labour professes to stand up for the strongest: the poorest in our society. It is a direct consequence of the policies pursued by this Chancellor.

Independent Lifeboats: Government Support

Jim Shannon Excerpts

Wednesday 29th October 2025 Westminster Hall

[Jim Shannon (Strangford) (DUP)]

It is always a pleasure to serve under your chairship, Mrs Harris. I commend and congratulate the hon. Member for Hamble Valley (Paul Holmes) on bringing this debate to Westminster Hall and thereby giving us all a chance to participate.

As the MP for a coastal constituency with a very large length of coast—the name of Strangford is the giveaway and tells the story—I am incredibly familiar with the role of lifeboats and the vital nature of having a well-trained and well-equipped lifeguard in post. We have lifeboat stations dotted throughout the coastline. Indeed, Portaferry—on the Ards peninsula, where I live—has one of seven RNLI lifeboat stations operating a lifeboat funded by viewers of the BBC television programme “Blue Peter”. I am old enough to remember the first “Blue Peter” programme, and it has had a commitment to lifeboats ever since.

In the last 10 years, the lifeboats of the charity’s 10 lifeboat stations in Northern Ireland have launched some 9,500 times. Their volunteers have saved 1,535 lives and come to the aid of thousands of other people. There is so much they have done and so much more they can do. In the last five years, there have been almost 3,000 incidents. The lifeboats have come to the aid of 3,500 people, and 47 lives were saved. If anyone wants a reason for backing this, that is what it is all about—the lives saved and the commitments given. The coastguard operates from Bangor marina, in the neighbouring constituency, but without charitably funded lifeboats, it simply could not handle the need and the load. It is sad that the RNLI really is the last emergency service, yet—I say this very respectfully—the Government pay less than 1% of its funding. I believe that the service deserves more than that.

As well as the RNLI, which I argue is basically independently funded, Northern Ireland has independent lifeboat services, such as Lagan Search and Rescue in Belfast and Lough Neagh Rescue. These services operate on inland waterways and estuaries and are not part of the RNLI, but are part of the focus that the hon. Member for Hamble Valley put forward at the beginning. Other independent groups, such as Foyle Search and Rescue, also provide water rescue services, and many are recognised by the coastguard as declared resources.

Part of our tourism strategy for Strangford is to try to highlight the availability of great family fun on the water, and a lot of that is found on the beautiful waters of Strangford lough, in my constituency. I live just on the edge of it, so I am very privileged to be able to wake up in the morning and look out across the lough. The activities range from paddleboarding to standard sailing and from jet skis to canoes. Anyone who drives around our coastal areas will see people enjoying the lough in all seasons.

However, with all that fun must come safety, and we know how much we rely on the good men and women who volunteer on the lifeboats. The availability of those crews means that we can welcome families to the lough and know that there will be help if the worst happens. That offers great reassurance for me as the MP for the area, but also for those who want to mess about in the water. I think there is a song that goes along those lines. I probably can remember it very well. I can even sing it, but if I sing the rain comes so that would not be a good idea.

The fact of the matter is that the lifeboat service really should be recognised as an emergency service and funded accordingly. Whether we are talking about the coastline in Scotland, England, Wales or beautiful Northern Ireland, as people have less disposable income to give to charities, the need for Government to step up will increase. I am pleased to see the Minister in her place; I wish her well. In her reply, maybe she can indicate what the possibilities are to help lifeboats. There might be some law that prevents it, but she will clarify that when the time comes.

My last comment will be to once again thank every volunteer, past and present, who gave their time and talent to fundraise and co-ordinate fundraising events, every person who so generously gives and every volunteer who gives their time and puts their life on the line to carry out the rescues. There is nothing quite as dramatic as those RNLI lifeboat adverts that come on between the films on a Sunday afternoon. If we need a reason for supporting them, seeing the drama of the rescues that they do will convince people to do that. To them, I say: we could not do without you, and we respect you as we respect all those who serve our communities in emergencies.

Family Farming in Northern Ireland

Jim Shannon Excerpts

Tuesday 28th October 2025 Westminster Hall

[Carla Lockhart (Upper Bann) (DUP)]

I beg to move,

That this House has considered the impact of agricultural property relief and business property relief on family farming in Northern Ireland.

It is a pleasure to serve under your chairmanship, Mr Efford. I am very grateful for the opportunity to bring forward this debate on an issue that cuts right to the heart of rural Northern Ireland and indeed Britain.

The proposed changes to agricultural property relief and business property relief will have devastating consequences for family farms across our nation. Agriculture is not just another sector in our economy; for Northern Ireland it is our very foundation. It sustains our rural communities, feeds over 10 million people annually, underpins our agrifood industry and provides work for tens of thousands of families. I make no apology for repeating a comment that I have made previously, and that my grandfather tells me every Sunday at the dinner table: if the farmer is not doing well in this country, no one is.

In Northern Ireland we have over 26,000 farms. They form the backbone of our rural life—

[Jim Shannon (Strangford) (DUP)]

I commend my hon. Friend for that point. She is absolutely right to underline the impact on family farms of the Chancellor’s proposals. In tandem with decisions being made by the Department of Agriculture, Environment and Rural Affairs Minister in Northern Ireland, they will leave many farmers feeling that their generational family farms have no future. My hon. Friend will probably have seen “Countryfile” on Sunday. It highlighted two things for farmers: first, the mental health impact and that there have been suicides; secondly, the generational loss of the farms. If farms are not working, they are not viable, do not produce the food and the impact is great. The Government really need to sit down, take account of where we are and change the decision.

[Carla Lockhart]

I thank my hon. Friend for his consistent voice on this issue. I will come to “Countryfile” later in my speech.

The vast majority of our farms in Northern Ireland are family run, often handed down proudly through several generations. The farm is not just a business: it is a home, a heritage and a legacy. That is why any policy that affects how farms are passed on to the next generation goes to the very core of who we are as rural people. For many families, the dream is simple: to see the next generation take over, work the same land and continue the proud tradition of stewardship. The reality of that dream is now under threat like never before.

Agricultural property relief has existed for a reason. It recognises that farming is asset-rich but cash-poor, or as we would say in Northern Ireland, “We are asset-rich but penny-poor.” A farm may be worth millions on paper, but that value is tied up in land, livestock, machinery, buildings and—most concerningly for many farmers—debt. Farmers spend money and they thrive in advancing. But for what—when they see what this Government are doing to them?