Changes to Agricultural Property Relief and Business Property Relief in the Autumn Budget 2025

That this House expresses concern with the Government’s announcement in the Autumn Budget, confirming their decision to cut Agricultural Property Relief (APR) and Business Property Relief (BPR) by 50% on all assets valued at over £1 million, effective from 6 April 2026; notes the Chancellor of the Exchequer’s introduction to allow any unused allowance of their £1 million at a 100% rate of relief to be transferred between spouses and civil partners will provide little financial assistance for family farms, with this policy failing to counter the financial impact the Government’s reform to APR poses to the agricultural sector; understands the Chancellor’s policy will disproportionately affect older farmers and those battling with terminal illness, who have been left little time to reorganise their wills; recognises these changes will only compound the financial struggles being felt by farmers with rising input costs, volatile energy prices, soaring fertiliser and feed bills and unfair competition created by poorly negotiated trade deals; and calls on the Government to reverse its cut to APR and BPR and pledge its support to our agricultural sector by increasing the farming budget by £1 billion a year to protect the rural economy and food security.