HC Deb 30 March 1971 vol 814 c1334
6. Mr. Deakins

asked the Chancellor of the Exchequer if he will consider removing the partial exemption from death duty of agricultural land.

Mr. Patrick Jenkin

I have noted the hon. Member's suggestion.

Mr. Deakins

Is the hon. Gentleman proposing to take any action to close this major loophole in death duty avoidance? Further, is he aware that it has contributed to the high price of farmland, which has been one of the means of preventing young people who want to become farmers owning their own farms?

Mr. Jenkin

I obviously cannot anticipate my right hon. Friend's Budget Statement but I rather feel that the hon. Member is exaggerating this. Out of a total estate duty yield last year of £365 million some £10.7 million was attributable to the relief of farmland.

Mr. Peter Mills

Will my hon. Friend bear in mind that high taxation on land means fragmentation of holdings, which is a most serious thing in agriculture? Will he take no notice of hon. Members opposite?

Mr. Jenkin

I will certainly take a great deal of notice of what my hon. Friend says.