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Family Farm Holdings

Volume 885: debated on Thursday 30 January 1975

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asked the Chancellor of the Exchequer what effect he estimates the gift tax will have on the size of family farm holdings over the next 10 years.

The rates of the tax are lower than were those of the estate duty and the Finance Bill provides a generous measure of relief for working farmers. The new tax is, therefore, unlikely to affect the size of family farm holdings.