§ Mr. FallonTo ask the Chancellor of the Exchequer how many estates in the most recent year for which figures are available were entitled to the inheritance tax exemption for farmland; and what revenue he estimates was lost as a result of this exemption. [26195]
§ Dawn PrimaroloAvailable information is in terms of inheritance tax relief for all agricultural property which covers farmland and other related assets. In 1997–98 it is estimated that about 1,200 death estates will benefit from agricultural property relief, at a cost to the Exchequer of around £70 million.