Today I asked the Government to consider a range of options to protect local family farms from the Inheritance Tax changes announced last year.

Speaking in Parliament as part of the Budget debate I said ‘there is still time’ to look at improvements to the policy.

I welcome wider Government measures to cut the cost of living.

I asked the Government to consider a range of options, including a Minimum Share Rule – where smaller estates pay less and larger ones pay more -; an elderly farmer exemption; and to keep the policy under review for two years.

I’m very grateful for the widow exemption – announced yesterday by the Government – which was introduced after tireless campaigning by rural Labour MPs. However I think we can and should go further.

I’ve met over 90 farmers in the past year. I wanted to share how ‘I’ve been deeply moved by the patience, generosity and respect shown to me by my constituent farmers, who have opened their homes and their lives to me’.

I know the need for stability and fairness. We all want to pay our fair share. But the new changes will introduce great uncertainty into family farm planning, while raising just £520m. This is equal to only two days of interest payments on the national debt.

You can watch my full speech above or at https://www.parliamentlive.tv/Event/Index/22d1910a-5e63-48d8-a17b-7f6cbc4fa7a7.