Sir Nicholas Soames: To ask Mr Chancellor of the Exchequer, what assessment he has made of the effectiveness of Heritage Maintenance Funds; and if he will make a statement.

Mel Stride, Financial Secretary to the Treasury: The Government recognises the cultural and economic contribution historic homes make right across the UK. Heritage Maintenance Funds play an important role in keeping historic homes in the best possible condition and making them accessible for the general public. That is why assets placed in Heritage Maintenance Funds continue to receive a complete exemption from inheritance tax.

The Treasury regularly monitors all reliefs and exemptions, including Heritage Maintenance Funds, to ensure they continue to be appropriate and affordable.

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