Could Labour's first budget end thousands of businesses?

New research has found that the government’s move to limit inheritance tax relief for family-owned businesses could cost Britain roughly 125,000 jobs and significantly reduce economic activity. The change unveiled in Labour’s first Budget could reduce the value of goods and services produced across the UK economy by £9.4bn and incur a £1.3bn net loss for the Treasury between 2026/27 and 2029/30, according to a study by CBI Economics. The latter figure contrasts with a £1.4bn gain in revenues estimated by the Office for Budget Responsibility over the same period from the change to business property relief (BPR). BPR allows assets of privately held firms and shares in companies listed on London’s junior stock market AIM to be passed on free from inheritance tax. Get more on the story 👇 https://www.cityam.com/budget-could-wipe-out-125000-jobs-in-family-businesses/ Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam Produced by: Lars Mucklejohn, Scarlett Wild, Larissa Howie