No.
Another flawed assumption is that the residential nil rate band will be applicable. If the value of the farm business is worth over £2.65 million, there is no residential nil rate band, so that swallows up large numbers of family farms.
I know that many Members are very, very unhappy indeed with the proposals. The hon. Member for Penrith and Solway (Markus Campbell-Savours) said he will vote with the Government because of the dire state that the former Government left farmers and agriculture in, but he is right when he says that this is a flawed piece of legislation. It will devastate family farms. I implore and beg the Minister to look at it again—and at least to get the facts right.
3.48 pm