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:
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:
Speaking at his speech on how to achieve “progressive capitalism” Wes Streeting fired a dig and Andy Burnham:
“Bond markets are not bond villains and fiscal rules matter.”