More than 200k jobs will be lost & £14.9bn wiped from economy due to Labour’s tax raid on family firms, warns report

MORE than 200,000 jobs will be lost and £14.9billion wiped from the economy as a result of Labour’s tax raid on family firms, a bombshell report warns today.

Changes to inheritance tax reliefs are already forcing businesses to cut jobs, cancel investment and sell up, according to the study by CBI Economics for Family Business UK.

More than 4,000 family businesses and farms were surveyed, with experts forecasting a loss of 208,500 jobs and £14.9billion in lost business activity by April 2030.