The Bishop of Newcastle spoke in a debate on the impact of removing agricultural property relief for farmers on 12th December 2024, with a focus on the effects on farmers in the North-east of England:
The Lord Bishop of Newcastle: My Lords, I begin by paying tribute to the noble Baroness, Lady Cumberlege. I commend her speech and her lifetime of bold interventions.
Stretching from the Scottish borders to the River Tyne, my diocese is largely made up of farming communities. For many, farming is about much more than making a living and has been their way of life for generations. A tractor horn outside this Chamber yesterday loudly proclaimed that “Old MacDonald has a farm”,’ but for how much longer?
I appreciate that the Government intend to target wealthy landowners buying land to avoid tax, but I fear that they have not adequately considered the impact on tenant farmers. The north-east has the highest regional proportion of tenant farmers. I pay tribute to my noble friend from the north Lord Curry of Kirkharle, who spoke from his own experience. Following the Budget, farming tenants are now faced with a greater lack of security. What assessment has been made, and will be made, of the impact that the changes to inheritance tax will have on tenant farmers?
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