Graham Stuart MP: speeches

Speeches

• 22 Jan 2025 · Great British Energy · Hansard source

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  There are no clear plans for Great British Energy, but there are very clear plans to end new licences for oil and gas in the North sea. Gary Smith of the GMB has said that stopping new licences is “the employment equivalent of a Grangemouth refinery closing nearly every week from 2025 to 2030.” When will the Secretary of State stand up for Scotland, oppose the Secretary of State for Energy Security and Net Zero, protect jobs and ensure that we do not have more imports with higher emissions?

• 20 Jan 2025 · Affordable Housing · Hansard source

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  We need a steady supply of affordable homes as well as homes in the private rented sector. Further to the question by my hon. Friend the Member for Mid Buckinghamshire (Greg Smith), it is easy to sound morally righteous while demanding ever higher standards, but if the housing market is wrecked, ultimately it will be the tenants who pay. Will the Secretary of State answer my hon. Friend’s question and tell us how she will ensure that the private rented sector remains investable so that tenants have somewhere to live?

• 16 Jan 2025 · Business of the House · Hansard source

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  It is nearly three years since the passing of the Down Syndrome Act 2022, yet the guidance that would bring it to life has not been implemented. People with Down’s syndrome really need support in areas such as healthcare, education and employment, so could we have a debate in Government time on support for people with Down’s syndrome, and ensure that this vital legislation is fully enacted?

• 16 Jan 2025 · Middle East · Hansard source

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  May I thank the Foreign Secretary for his statement, and express hope that the ceasefire is agreed and implemented and that the humanitarian aid we want to see follows on from it? In that light, does he share my concern about the evidence that UNRWA has been penetrated by Hamas and that the curriculum in schools run by UNRWA has propagated hate? Does he agree that the job of reform of UNRWA has not yet been finished and needs to be looked at so that UNRWA does not act as a place where terrorists can hide and hate can be promoted?

• 15 Jan 2025 · Higher Education Regulatory Approach · Hansard source

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  This screeching U-turn is welcome and I hope that, as the shadow Secretary of State says, it heralds a new period of humility and further change by the Government. The Secretary of State said that universities must protect free speech or “face the consequences”, but as far as I can see, she has removed those consequences. Could she please lay them out for us?

• 14 Jan 2025 · Renters’ Rights Bill · Hansard source

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  With the freedom of being on the Back Benches, I can say that the last Conservative Government got this wrong. When they stopped landlords being able to offset the interest payments on the mortgage for that commercial asset against their income, it was one step among many that reduced the number of landlords coming into the market. Each step along the way, instead of seeking to strengthen the market, successive Governments—Conservative then, and the process is bound to be completed by Labour now—moved against landlords to make it a less and less investable asset. Ultimately, those who lose out most are tenants.

• 14 Jan 2025 · Renters’ Rights Bill · Hansard source

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  My hon. Friend is making a powerful speech. Does she agree that, fundamentally, the only way to secure the rights of tenants is to ensure the buoyant rental market that she is talking about, where landlords want to enter and invest in it? They are then competing for tenants in the market, which is the biggest and most powerful force of all. That will drive decent behaviour towards tenants, and without that, landlords cannot gain and retain tenants.

• 14 Jan 2025 · Agricultural and Business Property Relief · Hansard source

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  I will come to that point later in my speech. When that farmland is gone, it will take with it the livelihoods of families who have devoted generations to feeding our nation and will have a permanent negative impact on the nation’s food security.

• 14 Jan 2025 · Agricultural and Business Property Relief · Hansard source

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  The hon. Gentleman is absolutely right. If the measure was about hitting huge investors, they are the ones least likely to be affected. The richest and most sophisticated will find it easiest to avoid the impact. Small farmers, such as the ones I visited on Friday, will be most seriously affected. It is a bit like the winter fuel payment cut. If the Government took that away from people who had an income of more than £25,000, it would be infinitely less controversial. The point is, it hits people on very low incomes and hurts them the most.

• 14 Jan 2025 · Agricultural and Business Property Relief · Hansard source

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  At the very least, as my right hon. Friend says and as a colleague touched on earlier, tweaks could be made to this policy to stop the most egregious negative impact of it on people who have planned in good faith all their lives for a position and are now in no position whatever to change things. It is not just the elderly—everyone looks for the elderly person in their 80s or 90s to pass on, but I met another constituent whose mother died aged 41. These things happen, sadly, and what does that do to a farm? Is it holding hundreds of thousands of pounds in the bank when there are 200 and something acres?

• 14 Jan 2025 · Agricultural and Business Property Relief · Hansard source

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  The hon. Lady is absolutely right: that is exactly what they will do. I am sure that it is not the Government’s intent to bolster the big international corporations and hurt the small player who is an embedded part of the community. So many people I speak to genuinely try and run their farms to be supportive of nature and of local business. Once major corporations are involved, these will not care where they get their supplies from. They will not be focused on that.

• 14 Jan 2025 · Agricultural and Business Property Relief · Hansard source

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  My hon. Friend is absolutely right. I spoke to another farmer in my constituency and his farm is owned by three people, one of whom is his father—who has a third of it—and who has been in ill health lately, is in his early 80s and is highly unlikely to live for the next seven years. All the planning that they responsibly put into ensuring that that farm continues to contribute to waterways, the environment, and the nation’s food security has been cast aside and turned over by this Government’s ill thought-out plans.

• 14 Jan 2025 · Agricultural and Business Property Relief · Hansard source

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  The hon. Gentleman is right. The expert valuers who do this for a living have come out with different numbers, but they are all violently different from the Government’s assumptions. Even on the basis of the Government’s own figures, if I take Beverley and Holderness—as a rural constituency—it would be a farm a year. And of course, everyone is affected. They are all having to spend and bring advisers into the room. They are sitting there, as a small business that might be making less than £25,000 a year, and having to pay £1,000 an hour to get the expertise in the room to advise them on something that, sure, depending on the longevity of family members, may not have an impact for 15, 20 or—hopefully—30 years, but none the less they are spending that money now because of the uncertainty of this policy, which is very ill advised.

• 14 Jan 2025 · Agricultural and Business Property Relief · Hansard source

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  Once that farmland is lost, it is gone forever. It is certainly gone forever from the families who, generation after generation, have been prepared to invest their all—their time and their money—into an asset which they never seek to realise, but merely use for a very low return on capital employed, in order to feed the nation. As somebody said to me, of all the groups that one might possibly target, of all the profit-maximising people it could be assumed might have the broad shoulders to pay more, why pick people who sit on a multimillion-pound asset, take a derisory income from it, and get up at four in the morning to feed us? Of all the groups to target, this is the most absurd. I hope the Minister, who has until 2026, can start to realise this.

• 14 Jan 2025 · Agricultural and Business Property Relief · Hansard source

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  The hon. Gentleman makes an important point that has not been made so far: we have among the lowest food costs in the world. In fact, all my local farmers are forever moaning at me about how outrageous it is that food is so low in price. As I say to them, the system has allowed them to continue farming, providing first-class food at a very low cost to consumers. It is that carefully balanced ecosystem that will be impacted by this juggernaut creation of the Government, which will raise, if it raises anything at all, very little. That is why it is great to have someone as thoughtful, insightful and empathetic as the Minister on the Government Bench, because we have time to change path away from this ridiculous policy.

• 14 Jan 2025 · Agricultural and Business Property Relief · Hansard source

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  I do. Someone only has to meet farmers to know that farming is already quite a lonely profession, with a high level of suicide anyway and high rates of depression. Combining that with this figure, it sounds hyperbolic to suggest that people will kill themselves ahead of this deadline, but knowing the farmers as I do in my area, I do not find it that hyperbolic. I hope it proves not to be the case, but it is a serious issue to be considered. The impact of changes to BPR extends beyond farming communities. When asked about the changes, 85% of family businesses surveyed by the Confederation of British Industry said they would reduce investment by an average of 17%, an issue which colleagues are rightly raising. That will stifle long-term growth and harm the broader network of businesses that depend on them. They say that trust takes years to build, seconds to break and forever to repair. As I walked down Whitehall, shoulder to shoulder with farmers, their anger was palpable because they had believed the Prime Minister’s promises yet were betrayed. To Labour’s credit, it won the trust of rural Britain, through every door knocked, leaflet printed and promise made. It went from representing two rural seats in 2019 to 40 today. The Prime Minister pledged to form a new relationship with farmers based on respect. My right hon. Friend the Member for Salisbury (John Glen) questioned where those proud rural Labour MPs are today; they are certainly not here facing the music. As usual, they are leaving the Minister to do it on his own. He asked us to judge his Government on their actions and not their words, so that is what we will do. In November 2023, the current Environment Secretary, in a room full of farmers, looked them straight in the eye and told them “We have no intention of changing APR.” By November 2024, that promise meant nothing. Labour waited 14 years to deliver its Budget, and it made a choice not just to change APR, but halve it. One constituent shared their shock as they calculated the impact, realising it would cost their family £300,000. Another constituent, William Hodgson, who runs a 600-acre farm near Withernsea with his mother, faces an inheritance tax bill of £1.5 million, with a post-tax profit of £150,000 a year. That means he would have to dedicate an entire decade of profits just to cover the cost of that tax. It was at that moment that the most valuable currency in politics—trust—was lost. In February 2024, the Prime Minister told the NFU that it deserves a Government that listens and heeds early warnings. The planned changes to APR are not due until 2026, leaving the Prime Minister with one year, two fiscal events and ample parliamentary sitting days, with many colleagues all too happy to constructively work with him, to come to this House and tell us that he has listened and will change course. The question is whether he has the courage to do so. It will have been hard to hear all of us and our chants while he was in Rio and we were in Whitehall; farmers at his north London surgeries will be few and far between. However, I hope he will listen to the hon. Member for Penrith and Solway (Markus Campbell-Savours), on his own side, who spoke bravely against the policy during the debate in the Chamber last month.

• 14 Jan 2025 · Agricultural and Business Property Relief · Hansard source

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  I will have to press on. Sweden ended up with even, I think, the communists voting to abolish it entirely. Since Sweden scrapped inheritance tax in 2004, entrepreneurship has flourished. Some 8,000 wealthy individuals moved their assets back to the country. Its tax revenues increased by £19.5 billion in a decade. The planned changes to APR and BPR hurt everyone and help no one. Scrapping inheritance tax may not be a silver bullet, but the evidence suggests it is a policy worth examining. I return to the saying that trust takes forever to repair. The Prime Minister will not take my word for it, but he should listen to his voters, and recent polls show that 66% of voters believe that Labour does not respect rural communities, and 77% do not trust Labour to manage the economy effectively, or remain unconvinced. Newer MPs may grandstand and say that it will all blow over—although their appetite to do so seems to be diminishing by the day—and that by 2029, it will be a bad memory for farmers and entrepreneurs. Perhaps they could ask some of their colleagues in the Liberal Democrats how that story ends. After all, in 2010, it took them less than six months to break their promise to students not to raise tuition fees, and it still came up in last summer’s TV debates. Farmers and businessmen, like students, have long memories. I am a firm believer that we reap what we sow. In the past six months, the Government have sown a dangerous thing—seeds of doubt, and an idea that they cannot be trusted. I had better let the Minister have a short period to respond. However, on behalf of colleagues right across this side of the House—and I think, by their absence, quite a number of colleagues on that side of the House—we ask the Minister, who is a thoughtful and decent man, to go back to the Chancellor and the Prime Minister, and persuade them to change course.

• 14 Jan 2025 · Agricultural and Business Property Relief · Hansard source

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  I beg to move, That this House has considered the impact of planned changes to agricultural property relief and business property relief on small businesses. It is pleasure to serve under your chairmanship, Dr Allin-Khan, and to see so many colleagues from across the House here today. Perhaps it is not surprising that we have a redoubtable Minister, who picks up the poisoned chalice on so many occasions. He will do so today, no doubt both well informed and with good humour, as he has done previously. I refer to my declaration in the Register of Members’ Financial Interests as a recipient of campaign donations from businesses and farmers across Beverley and Holderness. Given the rural nature of my seat, I will start by focusing on the twin impacts of the changes to agricultural property relief and business property relief on family farms, followed by the impact of changes to BPR on family businesses. We have just a half-hour debate, and a colleague asked the good question of why it was so short for something so big. That means I will probably be the sole speaker, but I am happy to take as many interventions as I can, because I know that concern is widespread. In her autumn Budget, the Chancellor announced a significant change to APR and BPR, set to take effect from April 2026. She is imposing a 20% tax on the value of land and machinery exceeding £1 million. That is known by many of us as a family farm tax. By the Government’s own estimate, it could result in one farm closing in every rural constituency every year.

• 14 Jan 2025 · Agricultural and Business Property Relief · Hansard source

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  My right hon. Friend is right. That is why I appeal to the Minister: if the Government do not care at all—in fact, if the Government see farmers as some sort of class enemy—it still does not make sense to do this, because it will weaken our food security. Go and talk to farmers—as I do in my area all the time—and it is obvious that their personal commitment to things like flood protection, understanding of the land, and thinking in the long term, is not just words. People think in the long term when there is no thought in their minds of selling. Why would anyone not put their money back in? Farmers put all their money back in because they are happy to do so, and they have a lifestyle as part of that. All that is put under threat if the investment in a piece of machinery or infrastructure that could help them to green their land will be subject to a 20% tax. Suddenly the economics do not add up and the bank will not want to lend.

• 14 Jan 2025 · Agricultural and Business Property Relief · Hansard source

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  I had better make some progress. The hon. Member for Penrith and Solway may have been scolded behind closed doors for doing that, but he will have regained the trust of voters who put their trust in him. As devastating as the proposed changes to APR and BPR could be on our farmers, the impact of the changes on family-owned businesses more widely could be even greater, and perhaps that deserves more attention. A recent report by Adriana Curca at the CBI laid bare the potential fallout. Far from raising £1.4 billion, as forecast by the Treasury, the Chancellor can expect a £1.2 billion decrease in tax revenue from family-owned businesses. Instead of helping the Government to fulfil their pledge to be pro-business and pro-worker, it could lead to the loss of more than 125,000 jobs over the next four years. Rachel from accounts obviously never got a new abacus for Christmas. Maple Garage, Beverley Travel, Beverley Camera Centre, Oh My Dog—great place—Flowerstyle, Vivienne Rose Wallpaper and Interiors, the Beverley Card Company, Islay Bloom, the Monkey Tree Café, Trent Galleries, Hull Aero Club—those are all businesses that I have spoken to since the Budget. The overwhelming sentiment was exactly the same, regardless of the type of business: disappointment in a Government who do not understand business. None of the Cabinet has ever run one, and it shows. When the Prime Minister promised that wealth creation would be his party’s No. 1 priority—do hon. Members remember that?—more than 120 business leaders believed him, from the founder of Wikipedia, Jimmy Wales, to Andrew Higginson, the chair of JD Sports. The Prime Minister convinced them that he had a plan to kick-start our economy. Now, six months into the reality of a Labour Government, they are lacing up their trainers and running for the hills. It does not have to be that way. Instead of tinkering with who is and who is not eligible for inheritance tax relief, we could consider following Sweden’s example, where, having tried heavy inheritance tax charges—

• 14 Jan 2025 · Agricultural and Business Property Relief · Hansard source

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  My hon. Friend is right. I say to the Minister that rather than looking at the issue through a fairness lens or an “attack wealth” lens, it must be in terms of incentives. Incentives are what drives behaviour, and behaviour is what drives wealth creation and security. If we come at it with some sort of A-level politics student’s approach, rather than one grounded in human behaviour and incentive, and get it wrong, we will see reduced investment from farm to farm and business to business. If someone is not buying that new piece of planting machinery, they will not be investing in the training of their staff or they will not take on that extra employee who would have been brought on, because to justify expenditure they needed to invest in them, pay them more, and bring on more staff. All of that goes into reverse. I hope that as they come face to face with the realities of being responsible for the economy, Ministers will take that onboard and start to have a different philosophical approach in the way they do policy.

• 14 Jan 2025 · Agricultural and Business Property Relief · Hansard source

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  I thank my right hon. Friend for that intervention. On Friday, I visited Ian and Rebecca at Bygott farm just outside Beverley, which is about 220 acres. Their profits would be wiped out by the expected inheritance tax for 10 full years, with 10 years to pay it. The expected annual payment for 10 years would be greater than their profit last year. They also play that vital role, which my right hon. Friend mentioned, of looking after the watercourses. The villagers nearby do not know what a critical part they play in maintaining those watercourses.

• 9 Jan 2025 · Public Finances: Borrowing Costs · Hansard source

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  That’s not a question.

• 9 Jan 2025 · Public Finances: Borrowing Costs · Hansard source

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  We are looking at higher interest rates, lower growth and a higher cost of borrowing to the Government; as my hon. and right hon. Friends have said, we are grateful to the Chief Secretary to the Treasury for being so honest with the House. It is clear that if he sticks to his word, there will not be any more borrowing, or any more tax rises. Given the numbers, that leaves only one option: cuts in public services. I wonder whether his colleagues behind him on the Government Benches realise that reality. What word other than “austerity” will he use to describe it?

• 8 Jan 2025 · Children’s Wellbeing and Schools Bill · Hansard source

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  Can the hon. Lady provide a single instance where a child who was in home education—we must remember that children at school spend about 86% of their time out of school—who was at harm was not known to social services already? Too easily there is a conflation of a failure of social services, which needs to be fixed, with home education, which is entirely separate.