I am deeply concerned about the future of farming in East Yorkshire, where the size of the average farm is ~230 acres, with values ranging ~£2.5-£3.5 million. To the farmers in my constituency, the proposed £1 million cap on Agricultural Property Relief is simply not enough.

@DavidDavisMP How come if farming is under such pressure and the earnings are so low, these farms are worth so much?

@ShloppyThirds @DavidDavisMP Because every so often they get millions for a single field for houses, plus the land is used to avoid IHT

@apsamuelson @ShloppyThirds @DavidDavisMP For IHT purposes it’s valued purely for agriculture, no other development value

@apsamuelson @ShloppyThirds @DavidDavisMP The land is used to put food into the shops. Many farms have been in the same family for hundreds of years, so the land is not "used to avoid IHT".