5 May 1995

Tenancies law

INDUSTRY organisations welcomed the completion of the Agricultural Tenancies Bills journey through Parliament on Tuesday.

It becomes an Act when given Royal assent in a few days and will liberalise new farm tenancy agreements from Sept 1.

In a joint industry statement the NFU, Country Landowners Association, Tenant Farmers Association, National Federation of Young Farmers Clubs, Royal Institution of Chartered Surveyors and the Central Association of Agricultural Valuers commended the government for introducing the legislation and for extending full relief from inheritance tax to newly let land.

It also praised shadow farm minister Dr Gavin Strang for giving an assurance that an incoming Labour government would not legislate retrospectively to alter tenancies agreed under the Act.