Graham Stuart MP: speeches

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Speeches

16 Dec 2025 · Finance (No. 2) Bill · Hansard source
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The Minister is always both gracious and generous. Further to the point made by my hon. Friend the Member for Keighley and Ilkley (Robbie Moore) about the impact of BPR, imagine a company that is worth £11 million. It will have a £2 million BPR tax payment to make. The person who inherits the shares will not have that £2 million, so they will have to extract that money from the business. Am I right in thinking that that would require £3.3 million to be deducted and taken out of the company in order to pay that £2 million in tax? Is that in the right order?
16 Dec 2025 · Finance (No. 2) Bill · Hansard source
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On that point, will the Minister give way?
16 Dec 2025 · Finance (No. 2) Bill · Hansard source
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Does my right hon. Friend worry, like me, about the background of those on the Government Front Bench? I do not want to disrespect either of the individuals sitting there now, because they are both fine people, but neither has ever, so far as I am aware, been involved in running a private business. They do not understand how private business works, and they equate the inheritance of money—for example, from a father to a daughter—with a family business. A family business needs to continue, because of all the employment that arises from it. Equating the two and saying that it is half the normal inheritance tax is to show a complete failure of understanding of the economy of this country and the economy of a family business.
16 Dec 2025 · Finance (No. 2) Bill · Hansard source
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Yes, indeed—and they did. We have seen it. All the evidence is there, and it is happening now, regardless of the argument from Ministers as to what percentage of farms will be affected. We can see it in all the stats. Those stats are available—particularly, I would have hoped, to Treasury Ministers to find out what the real-world impact of this policy is. The real-world impact is that we have seen a drop in investment in the farming industry. That is a disaster. It may be that the hon. Member for Penrith and Solway is standing alone, but let us look at the enthusiasm on the Labour Benches for the Second Reading of this major Finance Bill that is supposed to be doing such good for the country. There are more than 400 Labour Members, but they are not exactly here to cheer it on. I think they—and, I hope, the Minister—are realising just how counterproductive this is. The one thought I will try to implant above all is those numbers, which mean that it is absurd. Madam Deputy Speaker, imagine generally being a business owner today, and not necessarily in farming. You hike your way up the mountain to get to success, wading through an eternal shower of tax rises and hacking your way through a jungle of red tape. Then, on your death bed, you are met not first by the grim reaper but by the Chancellor, armed with one final sting: a double tax bill for your children. This is the reality facing family businesses: if the Government cut business property relief next year, that will lead to a double tax bill. I asked the Exchequer Secretary to the Treasury, who opened the debate, to comment on how that double taxation works. He was unable to respond off the top of his head to my specific numbers, which is entirely understandable, but I hope that the Economic Secretary to the Treasury, armed and perhaps refreshed by the brilliant people in the Box behind her, will be able in summing up to address the specifics of the tax reality for a business faced by the double tax bill that thousands of sons and daughters will receive when their entrepreneurial mum or dad passes away. From April, the 100% inheritance tax relief that family businesses rely on will be capped at just £1 million; anything above that will be taxed at 20%. Take a small company worth £11 million: the inheritance tax bill alone will be £2 million. But as far as I am aware, the sons and daughters of most entrepreneurs in Beverley and Holderness do not have £2 million tucked away down the back of the sofa. To pay that bill, which is a tax not on the business but on the people who inherit the business, as they are outside the business—I am not sure whether people have focused on this enough—they will be forced to extract that money from the business itself, usually in the form of dividends, and those dividends are taxed at rates approaching 40%. So a £2 million inheritance tax bill becomes a £3.3 million hit on the business, with £2 million to pay the Chancellor and another £1.3 million to pay—oh yes—the Chancellor, simply because the money was invested in jobs, equipment or the business overall rather than left idle.
16 Dec 2025 · Finance (No. 2) Bill · Hansard source
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The Minister says that there will be no cut to capital budgets, but of course he is talking only about the public sector. Has he seen the CBI Economics research that suggests that there will be severe capital budget reductions in the private sector—the very sector that creates the wealth on which everything else depends?
16 Dec 2025 · Finance (No. 2) Bill · Hansard source
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As so often, the hon. Gentleman is absolutely right. Again, the talk is of hitting the fat cats and big businesses, but it is the huge corporates that will benefit. They will snap up the farmland and the small business. This is not fair taxation; it is irrational double taxation. The consequences of this policy are real. If the hon. Member for Angus and Perthshire Glens (Dave Doogan)—I will call him my hon. Friend, if I may—is right about the Treasury being obsessed with the bottom right-hand corner, I hope that if no other argument weighs with the Minister, this might. A report by the CBI suggests that far from raising the welcome £1.4 billion forecast by the Treasury, the changes are likely to reduce tax revenues from family-owned businesses by £1.8 billion by 2030. That is yet another example of this innumerate Government having the exact opposite outcome from the one they wished, as investment falls, businesses restructure and growth is choked off. Instead of supporting the Government’s claim to be pro-business and pro-worker, this change could cost more than 200,000 jobs, on top of the 200,000 that the Chancellor has already cost the country. That is money sucked out of the economy and into Labour’s bottomless black hole. The impact will be felt directly in Beverley and Holderness, where it is expected to put 237 local jobs at risk, according to the CBI. Those are apprentices—
16 Dec 2025 · Finance (No. 2) Bill · Hansard source
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I am reminded again of Shakespeare, who I believe said: “Th’ abuse of greatness is when it disjoins remorse from power.”
16 Dec 2025 · Finance (No. 2) Bill · Hansard source
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I am grateful to the hon. Gentleman for giving way while he is on the subject of energy. Of course, what should have been in the Bill was an end to the additional tax levy, because there are no sky-high profits any more, there are no excess taxes that need to be paid, and 1,000 people a month are losing their job in the oil and gas industry.
15 Dec 2025 · Women Veterans · Hansard source
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My constituent Katie has served in the RAF for 25 years. In preparation for her return to civilian life, she secured an MOD rentals tenancy to provide housing stability before she receives her pension next year and can buy a house of her own. At short notice, that tenancy was withdrawn, leaving her and her family facing potential homelessness, in clear violation of the armed forces covenant. Despite repeated appeals and over 28 days of silence from the Ministry of Defence, no resolution has yet been offered. Will the Minister please review this case urgently and the letter I sent to Ministers on 5 December to ensure that female veterans like Katie are properly supported during their transition back to civilian life?
15 Dec 2025 · Employment Rights Bill · Hansard source
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On that very point, does the hon. Member believe that it is totally pragmatic to have disregarded her objections to the removal of the cap in return for additional places for the Liberal Democrats in the House of Lords?
15 Dec 2025 · Employment Rights Bill · Hansard source
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Will my hon. Friend give way?
15 Dec 2025 · Employment Rights Bill · Hansard source
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We did not hear it from the Minister, so could the hon. Member please explain the case for removing the cap?
15 Dec 2025 · Employment Rights Bill · Hansard source
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Labour colleagues shake their heads as my hon. Friend lays out the blindingly obvious. That goes to show why introducing a measure at the last minute during ping-pong is inappropriate and precisely why the House of Lords is right to say that we must consider this fully. It is quite obvious that Labour Members do not want to understand it; they obviously do not understand the implications.
15 Dec 2025 · Employment Rights Bill · Hansard source
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I am extremely grateful. My hon. Friend is setting out a powerful case. We are puzzled, because a system designed for ordinary workers that has a sensible cap is now being opened up to the very CEOs who, as has been highlighted, would not have previously used it. We have a Labour party in hock to the unions yet strangely proposing a measure that was not included their manifesto which can only help the rich. What happened to the Labour party?
11 Dec 2025 · Business of the House · Hansard source
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May we have a debate in Government time on the quality of parcel delivery services? Prompted by constituents, just last night I asked about Evri on Facebook. I have more than 100 responses already, most of them negative, sadly. Amid the gloom, one name did stand out, and that was Patrington’s Evri delivery superstar, Rachel McVitie, who goes above and beyond to make sure that parcels arrive safely and on time and seems universally beloved in the village, so it is good to mark that. Although some individuals provide that exceptional service, too many customers, particularly in rural areas, are facing problems with parcel delivery at Christmas. Will the Leader of the House consider granting time for a debate so we can explore what more can be done to ensure consistent, high-quality delivery services across the country?
10 Dec 2025 · Seasonal Work · Hansard source
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Tom, the landlord of the Kings Head in Hedon, heard on Budget day that business rates would be cut for businesses like his. Instead, the rateable value of that pub, which provides such an important service to the people of Hedon and the surrounding villages, has gone from £9,000 to £32,000.
10 Dec 2025 · Seasonal Work · Hansard source
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My hon. Friend may be aware that just across the channel in France, high regulation and high tax has led to consistent, long-term high youth unemployment. Speaking of Andy Williams, another song says that there is a “lesson to be learned” from this, and we do not have to look too far to learn it.
10 Dec 2025 · Seasonal Work · Hansard source
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What seems to be missing on the Government Benches is any recognition of the growing anger among young people at the fact that they are being shut out of the jobs market. It is the most damaging time in someone’s life to be barred from work when they are young. The Minister does not seem to be an Andy Williams fan, but The Clash sang under a previous Labour Government: “Career opportunities are the ones that never knock”. Not under Labour.
10 Dec 2025 · Seasonal Work · Hansard source
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Will the Minister give way?
10 Dec 2025 · Seasonal Work · Hansard source
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My hon. Friend is making a powerful speech, and he is entirely right about the impact on seasonal workers, but we should always look beyond the producers to the consumers. What will the impact be at music festivals and at all sorts of events—community events—all around the country? We will see higher prices and there will be less competition and choice. It is socialism in action—everybody losing, including society as a whole.
10 Dec 2025 · Seasonal Work · Hansard source
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Will the Minister give way?
10 Dec 2025 · Seasonal Work · Hansard source
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Would the Minister like to apologise to the more than 280,000 people who are not in work now, compared with the level of unemployment last year, and could she spell out how a business that, for example, provides catering at summer festivals and then ceases to have any festivals to service can guarantee hours to a workforce it does not need any more?
10 Dec 2025 · Conduct of the Chancellor of the Exchequer · Hansard source
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I think it is the dishonesty that is catching at everybody’s throat. A year ago at the Budget, the Chancellor said that she was not going to freeze income tax thresholds because—I think I quote—it would be an additional tax on working people, and therefore in breach of the Labour manifesto. A year later, she did exactly that, and then claimed that it was not a breach of the Labour manifesto. That is rank dishonesty. That is why Madam Deputy Speaker is allowing language that would not normally be used in this Chamber: because this motion and this Government mean we have to address issues that normally do not occur.
10 Dec 2025 · Conduct of the Chancellor of the Exchequer · Hansard source
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I wonder how best this behaviour can be described—as a falsehood, an untruth, a fib, a lie or a whopper, or are there other synonyms that better describe the repeated failure to do what one promises?
10 Dec 2025 · Conduct of the Chancellor of the Exchequer · Hansard source
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Will the Minister give way?

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