Every ****ing thing they touch.
Independent economics consultancy CBI Economics released a large-scale analysis of Reeves’ changes to death taxation at the Budget. APR and BPR hikes will end up costing the Treasury more than they raise:
Anticipated economic costs include Gross Value Added loss of £14.8 billion by April 2030.
Includes the loss of 208,500 jobs by 2030.
55% of family firms + 49% of family farms have paused or canceled planned investments
That’s a 16% average decrease in investment.
Almost half of family businesses predict reduction in headcount – average decline of 9% in employment.
Agriculture and horticulture firms foresee average turnover reduction of 11%, while real estate and construction sectors expect 9% reduction.
Employment in construction, manufacturing, and accommodation sectors to decrease by circa 11%.
Of the predicted 208,000 job losses 180,000 will take place in family firms – 0.7% of all UK jobs.
28,000 job losses will occur in the farming sector, an 8.% decrease in sector employment.
Most startlingly the analysis estimates the net fiscal impact of the tax changes will reduce Treasury tax revenues by £1.9 billion, which is just above the £1.8 billion the Treasury optimistically claims it will raise by 2030. Rendering the punitive changes completely pointless…
Read the full report below:
https://www.scribd.com/document/870546562/FBUK-Taxing-Futures-Report-June-2025#download&from_embed