Written questions by Vickers.

What assessment her Department has made of the potential impact of changes to Business Property Relief on family-owned businesses in (a) the North East and (b) the UK.

The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free. The analysis undertaken by CBI Economics was commissioned by Family Business UK and is based on a self-selecting online survey from members of representative groups campaigning against the reforms. The independent Office for Budget Responsibility (OBR) certified the costing at Autumn Budget 2024 as ‘reasonable and central’. The reforms to agricultural property relief and business property relief are forecast to raise a combined £520 million in 2029-30. The OBR does not expect the reforms to have a significant macroeconomic impact. The OBR published information about the costing in the Economic and Fiscal Outlook on 30 October 2024. The OBR published more detail on the costings on 22 January 2025. This material is all available on the OBR’s website. Information from claims is not recorded in a manner to enable regional or national breakdowns of the number of estates expected to be affected. However, the reforms are expected to result in up to 520 estates claiming agricultural property relief, including those also claiming business property relief, paying more inheritance tax in 2026-27. Almost three-quarters of estates claiming agricultural property relief, including those that also claim for business property relief, will not pay any more tax as a result of the changes in 2026-27, based on the latest available data. The Government has also set out that around 1,500 estates across the UK only claiming business property relief are expected to pay more inheritance tax in 2026-27, with around 1,000 of these expected to only hold shares designated as “not listed” on the markets of recognised stock exchanges, such as the Alternative Investment Market. Around three-quarters of estates claiming business property relief in 2026-27 (excluding those estates only holding shares designated as “not listed”) will not pay any more inheritance tax in 2026-27. The rules relating to valuation at death are long-standing and well-established in legislation, including for business property, and guidance is available. More information is available at www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm09701 and in the section on valuation in the guide to completing inheritance tax accounts at www.gov.uk/government/publications/inheritance-tax-inheritance-tax-account-iht400.

Whether she has had discussions with representatives of Family Business UK on the findings of their June 2025 report on inheritance tax reform.

The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free. The analysis undertaken by CBI Economics was commissioned by Family Business UK and is based on a self-selecting online survey from members of representative groups campaigning against the reforms. The independent Office for Budget Responsibility (OBR) certified the costing at Autumn Budget 2024 as ‘reasonable and central’. The reforms to agricultural property relief and business property relief are forecast to raise a combined £520 million in 2029-30. The OBR does not expect the reforms to have a significant macroeconomic impact. The OBR published information about the costing in the Economic and Fiscal Outlook on 30 October 2024. The OBR published more detail on the costings on 22 January 2025. This material is all available on the OBR’s website. Information from claims is not recorded in a manner to enable regional or national breakdowns of the number of estates expected to be affected. However, the reforms are expected to result in up to 520 estates claiming agricultural property relief, including those also claiming business property relief, paying more inheritance tax in 2026-27. Almost three-quarters of estates claiming agricultural property relief, including those that also claim for business property relief, will not pay any more tax as a result of the changes in 2026-27, based on the latest available data. The Government has also set out that around 1,500 estates across the UK only claiming business property relief are expected to pay more inheritance tax in 2026-27, with around 1,000 of these expected to only hold shares designated as “not listed” on the markets of recognised stock exchanges, such as the Alternative Investment Market. Around three-quarters of estates claiming business property relief in 2026-27 (excluding those estates only holding shares designated as “not listed”) will not pay any more inheritance tax in 2026-27. The rules relating to valuation at death are long-standing and well-established in legislation, including for business property, and guidance is available. More information is available at www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm09701 and in the section on valuation in the guide to completing inheritance tax accounts at www.gov.uk/government/publications/inheritance-tax-inheritance-tax-account-iht400.

What assessment she has made of the adequacy of the performance of the Government Major Projects Portfolio.

The government recently created the National Infrastructure and Service Transformation Authority (NISTA) which will have an impactful role in supporting and monitoring major projects on the GMPP. NISTA conducts regular deliverability assessments of major projects in the Government Major Project Portfolio. Data on major projects, including this deliverability assessment, is published each year in the Annual Report on Major Projects. The 2024/25 Annual Report will be published in due course. NISTA has already supported the development of the “UK Infrastructure: A 10-Year Strategy” which sets out government's long-term plan for driving more effective delivery of economic, housing and social infrastructure across the country, alongside the vital reforms to planning.

How many farms in Wales will be impacted by changes to (a) agricultural property relief and (b) business property relief.

The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free. Information from claims is not recorded to enable regional or national breakdowns of the number of estates expected to be affected. However, the Government has set out that around 1,500 estates across the UK only claiming business property relief are expected to pay more inheritance tax in 2026-27, with around 1,000 of these expected to only hold shares designated as “not listed” on the markets of recognised stock exchanges, such as the Alternative Investment Market. These reforms mean that around three-quarters of estates claiming business property relief in 2026-27 (excluding those estates only holding shares designated as “not listed”) will not pay any more inheritance tax in 2026-27. The reforms to agricultural property relief and business property relief are forecast to raise a combined £520 million in 2029-30. The independent OBR certified this costing at Autumn Budget 2024 and it does not expect the reforms to have a significant macroeconomic impact.

What steps she is taking to ensure employers are aware of the National Insurance relief when hiring apprentices under 25.

I refer the honourable member to the answer given to question 50506: https://questions-statements.parliament.uk/written-questions/detail/2025-05-07/50506

What estimate she has made of the number of farmers who will be impacted by changes to (a) Agriculture Property Relief and (b) Business Property Relief.

The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.These reforms are expected to result in up to 520 estates claiming agricultural property relief, including those also claiming business property relief, paying more inheritance tax in 2026-27. Almost three-quarters of estates claiming agricultural property relief, including those that also claim for business property relief, will not pay any more tax as a result of the changes in 2026-27, based on the latest available data.

Whether her Department is taking steps to support Safe Hands plan holders financially impacted by its administration.

I am sympathetic to all the Safe Hands customers who have lost money, following the collapse of the firm in 2022. In January 2021, the Government legislated to bring all pre-paid funeral plan providers and intermediaries within the regulatory remit of the Financial Conduct Authority (FCA) from 29 July 2022. This has ensured that 1.6 million funeral plan customers are, for the first time, protected by compulsory and robust regulation as they seek to put their affairs in order. Unfortunately, the customers of Safe Hands do not qualify for compensation under the Financial Services Compensation Scheme (FSCS) as the funeral plan industry did not become regulated by the FCA until 29th July 2022. It would not be appropriate for the Government to set the precedent or expectation that it will use taxpayer money to compensate consumers for the misconduct of unregulated firms or products which were not sold as FCA regulated at the time.DWP's Funeral Expenses Payments scheme offers financial support for a simple funeral for those on certain income-based benefits or tax credits. The scheme covers the necessary burial or cremation costs and provides up to £1,000 for other expenses.

How many commercial farms she has visited since announcing the changes to Agricultural Property Relief and Business Property Relief.

The Government published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms.The Government, HM Treasury officials, and Ministers meet with stakeholders on a regular basis.

What assessment she has made of the potential impact of the Autumn Budget 2024 on levels of unemployment.

The Office for Budget Responsibility’s October 2024 forecast, which takes into account measures announced in the Budget, expects the unemployment rate will fall to 4.1% next year and remain low until 2029.

What assessment she has made of the potential impact of the Autumn Budget 2024 on levels of poverty.

The Government is developing an ambitious and comprehensive strategy to reduce child poverty. Autumn Budget 2024 announced measures to support households who face the greatest hardships. This support includes a new Fair Repayment Rate which caps deduction...

Whether she has made an assessment of the potential merits of extending deemed reseller rules to cover UK-established sellers.

Since 1 January 2021 overseas sellers, or online marketplaces where they facilitate the sale, are required to be registered and account for VAT for supplies of low value imports of £135 or less. Where an overseas seller sells goods located in the UK at th...