Jeremy Moody from the Central Association of Agricultural Valuers says the OBR report is 'it is a certificate of uncertainty'.
ADVERTISEMENT
The Central Association of Agricultural Valuers (CAAV) has raised further question marks over government claims that only 500 farms per year will be impacted by a new proposed £1m threshold for Agricultural Property Relief (APR) from inheritance tax.
Addressing a Westminster committee in December, Keir Starmer, the British prime minister, repeated on two occasions that the government figures were certified by the Office of Budget Responsibility (OBR), a body which provides independent analysis of public finances. However, according to Jeremy Moody from the CAAV, the OBR only certified the data as “highly uncertain”.
“The OBR has not given the Government the confidence it claims for the figures it uses. The OBR report is not a defence; it is a certificate of uncertainty,” said Moody.
ADVERTISEMENT
CAAV analysis suggests government is underestimating the number of affected farmers by a factor of five and that is before any account is taken of inflation over the coming years.
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
The Central Association of Agricultural Valuers (CAAV) has raised further question marks over government claims that only 500 farms per year will be impacted by a new proposed £1m threshold for Agricultural Property Relief (APR) from inheritance tax.
Addressing a Westminster committee in December, Keir Starmer, the British prime minister, repeated on two occasions that the government figures were certified by the Office of Budget Responsibility (OBR), a body which provides independent analysis of public finances. However, according to Jeremy Moody from the CAAV, the OBR only certified the data as “highly uncertain”.
“The OBR has not given the Government the confidence it claims for the figures it uses. The OBR report is not a defence; it is a certificate of uncertainty,” said Moody.
CAAV analysis suggests government is underestimating the number of affected farmers by a factor of five and that is before any account is taken of inflation over the coming years.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS