Clause 26. — (Miscellaneous Exemptions for Certain Kinds of Property.)

Part of Orders of the Day — FINANCE (No. 2) BILL – in the House of Commons at 12:00 am on 27 May 1965.

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Photo of Mr Paul Hawkins Mr Paul Hawkins , South West Norfolk 12:00, 27 May 1965

Presumably to somebody else.

As I was saying, it will mean that the smaller and medium-sized farms will be split up. Has not the Ministry of Agriculture, Fisheries and Food been doing its best to prevent that from happening? Indeed, I understand that talks are now proceeding between the N.F.U. and the Ministry aimed at the establishment of larger rather than smaller farms.

Much has been said about compensation for goodwill. What will be the position of the goodwill of a tenant farmer who is affected by compulsory purchase? The goodwill at present applicable in such a case is already derisory and no tenant farmer can move into another farm on his present compensation—that is, even if he is able to find a farm at all to let. I understand that this is also the subject of discussions between the N.F.U. and the Ministry. To place an additional tax on such compensation is an injustice. I hope, therefore, that payments for goodwill of this sort will be exempted from Capital Gains Tax.